'15 Billion Won Over 4 Years' Made by Selling Name... The Most Expensive Seoul Subway Station Is

Seoul Metro to Resume Paid Station Name Co-Signing in 2021
Gangnam Station, Seongsu Station, and Euljiro 3-ga Station Are the Most Expensive

Among Seoul subway stations, the one that paid the highest price for its ‘name value’ was Gangnam Station (Haroo Plant Dental Clinic).

Director Kim Hyung-gyu of Haru Plant Dental Clinic and his spouse, Kim Yoon-ah of Jaurim, who is also active as a singer. Photo by Haru Plant Dental Clinic Blog

On the 29th, Seoul Metro announced that it earned approximately 14.97 billion KRW in revenue over the past four years through the ‘Paid Station Name Co-Listing Project,’ which sells the rights to display additional names alongside subway station names. This corresponds to an average annual revenue of about 3.74 billion KRW.

The Paid Station Name Co-Listing Project involves adding the names of nearby companies or institutions as secondary station names on nameplates bearing the individual subway station names. It was launched in 2016 to overcome financial difficulties.

The project was suspended after the merger of Seoul Metro and Seoul Metropolitan Rapid Transit Corporation into Seoul Metro Corporation but resumed in 2021.

Bidding targets must be located within 1 km of the station, excluding places that deviate from public interest, such as entertainment establishments. Among those meeting the criteria, the highest bidder becomes the final winner. The company name is displayed in a total of 10 locations, including station entrances, platforms, safety doors, and route maps. The contract term is three years, with one possible three-year extension.

Seongsu Station area Photo by Yonhap News

Out of a total of 276 stations on Seoul Metropolitan Subway Lines 1 to 8, 39 stations (transfer stations counted as one) have sold their station names.

Since the bidding method is used, prices generally increase for stations with higher passenger traffic. The top five stations are ▲1st Gangnam Station (Haroo Plant Dental Clinic) ▲Seongsu Station (CJ Olive Young) ▲Euljiro 3-ga Station (Shinhan Card) ▲Euljiro 1(il)-ga Station (Hana Bank) ▲Seolleung Station (Acuon Savings Bank).

Gangnam Station, which won the highest bid in the paid sales project, had a contract amount of 1.111 billion KRW from Haroo Plant Dental Clinic. The 2nd and 3rd places were Seongsu Station with 1 billion KRW and Euljiro 3-ga Station with 874.5 million KRW, respectively.

Following them were Yeoksam Station (Center Field · 705 million KRW), Euljiro 4-ga Station (BC Card · 707 million KRW), Myeongdong Station (Woori Financial Town · 654.66 million KRW), Guro Digital Complex Station (Wonkwang Digital University · 477 million KRW), and Apgujeong Station (Hyundai Department Store · 473 million KRW).

In Japan, a similar system was introduced in the mid-2000s. Similar systems also exist in New York, USA; London, UK; and Delhi, India.

However, some criticism arose regarding the awarding of secondary station names to Haroo Plant Dental Clinic and CJ Olive Young, arguing that it lacks public interest. In response, a Seoul Metro official stated, “We have begun efforts to strengthen public interest criteria for selecting winning institutions,” adding, “We plan to hold an advisory committee meeting around mid-October to discuss specific improvement directions.”