Seoul Jung-gu: "We Will Create a Global Landmark Surpassing New York's Times Square"
Located in Myeongdong, the Starting Point and Must-Visit Course for Korean Tourism
Three-Phase Project to Begin This Year for 10 Years
170 Billion KRW Investment Over 10 Years... Expected Annual Revenue of 50 Billion KRW
Myeongdong Square Free Display Zone No. 1, the main electronic billboard of Shinsegae Department Store Main Building. Kim Gil-seong, Mayor of Jung-gu, Seoul, is looking at the electronic billboard. Provided by Jung-gu.
Myeongdong, Jung-gu, Seoul, a representative domestic tourist attraction, is being reborn as ‘Myeongdong Square’ and will leap forward as a landmark.
On the 23rd, Kim Gil-seong, Mayor of Jung-gu, met with reporters at Myeongdong Post Tower and stated, “Myeongdong Square will be a space where visitors can experience overwhelming presence and immersion surpassing the fame of New York’s Times Square, and it will rise as a new tourist attraction for people around the world.”
‘Myeongdong Square’ means Myeongdong embracing four plazas that will shine for South Korea. Mayor Kim said, “Myeongdong is the starting point and essential course of Korean tourism visited by 77% of foreign tourists, and it is the optimal place for global promotion. We will create an attractive space that surpasses global landmarks by combining the differentiated charm of the old downtown Myeongdong with cutting-edge cultural content.”
According to Jung-gu, the Myeongdong area was selected as the ‘2nd Outdoor Advertising Free Display Zone’ (Free Display Zone) at the end of last year, allowing free installation of shapes and sizes of electronic billboards. Jung-gu planned and promoted transforming the area into a plaza of light that surpasses New York’s Times Square, where people can experience a festival of light emitted from large electronic billboards, media poles, and following media around Myeongdong.
Myeongdong Square will be carried out in three phases over 10 years from this year to 2033. Sixteen building LED billboards and 80 street media devices will be installed. In the first phase, the introduction period (2024?2025), basic infrastructure will be established and information and communication technology (ICT) will be introduced. Large LED billboards will be installed on six buildings along Myeongdong-gil, including the main building of Shinsegae Department Store, Lotte Young Plaza, and Hana Bank. In particular, the new building of Lotte Department Store is scheduled to install the largest billboard in Korea (2145㎡, 115m*21m), visible even from Jonggak.
Another axis leading the change in Myeongdong is the creation of four plazas. The plazas will be themed on the four primary colors of color printing (C·M·Y·K), each embodying one color.
C Square (Euljiro 1(il)-ga Station intersection) will provide a space for rest, relaxation, and leisure. It is planned to be developed as a space where visitors can rest through natural-friendly healing content including landscaping. M Square (Myeongdong-gil) will be designed as a space filled with creativity and passion where various artists can perform busking and other performances.
Y Square (from Lotte Department Store to the entrance of Myeongdong-gil) is the place where the most media and foot traffic gather, and it will be developed as a convenient and relaxing space for pedestrians. Shopping, food, and tourism infrastructure will synergize to create a plaza where businesses and small merchants coexist and prosper together.
K Square (around Shinsegae Department Store) will be a space showcasing formal artworks, providing new artistic experiences to passersby. It is scheduled to be the first of the four plazas to be completed by the end of October this year. This is to prepare a space where citizens and tourists can comfortably enjoy content ahead of the lighting ceremony of the Shinsegae Department Store main building’s billboard, the first billboard in the Free Display Zone.
In the second expansion phase (2026?2028) and the third completion phase (2029?2033), large billboards will be installed step-by-step on buildings including the new building of Lotte Department Store, Euljiro 1(il)-ga Gyeonggi Building, Eulji Korea Building, Shinhan Bank, Noon Square, Hanjin Building, Rimowa, Mega Coffee building, and Myeongdong New York Bakery. This will establish a reinvestment foundation to create a local win-win ecosystem and position Myeongdong as a landmark of South Korea.
Additionally, street media advertisements will be introduced in phases. Smart media poles combine streetlights with smart technology and provide various information through digital screens. They will also include functions such as smart CCTV, emergency bells, and public Wi-Fi to create a safe and convenient street environment.
Jung-gu views the Myeongdong Square project as a massive project that will rewrite the paradigm of outdoor advertising business. It expects the project, which will be promoted over 10 years, to have a significant ripple effect on the economy, culture, arts, and tourism sectors. A Jung-gu official said, “With an investment of 170 billion KRW over 10 years, an annual revenue of 50 billion KRW is expected. Part of this will be formed into a fund to reinvest in infrastructure development and revitalization of Myeongdong’s commercial district, including safety, road maintenance, events, and cleaning, creating a virtuous cycle.”
Meanwhile, Jung-gu plans to hold the lighting ceremony for the Shinsegae Department Store main building’s billboard, the first in the Free Display Zone, on the 1st of next month.
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