Even High-Rise Apartment Balconies and Han River Tent Spots Are Being Traded
Hotel Room Rates Surge by Millions of Won
In anticipation of the upcoming fireworks festival to be held in Yeouido, Seoul, accommodation prices in the surrounding area have surged, and there is a growing trend of reselling or transferring prime viewing spots through secondhand marketplaces, leading to signs of overheating.
The 'Seoul International Fireworks Festival,' hosted by Hanwha Group on September 27, is one of the nation's leading outdoor events, attracting millions of visitors every year. As a result, nearby hotels and high-rise apartments with views of the fireworks are actively traded as "prime spots."
In particular, the hotel industry considers this period an "ultra-peak season" and has sharply raised room rates. The suite rooms in some luxury hotels with views of the Han River in Yeouido are being sold for over 13 million won per night, including tax. Standard rooms are also priced at two to three times the usual rates, and even city-view rooms without fireworks views have seen significant increases compared to average weekend prices.
The dazzling fireworks of the Seoul International Fireworks Festival are decorating the night sky. Photo by Moon Honam munonam@
A large hotel in Yongsan has released a fireworks-viewing dining package at a higher price than last year. A hotel under the Novotel brand, which offered a food and accommodation package for around 820,000 won last year, is now charging between 860,000 and 890,000 won for the same package this year.
Not only hotels but also individuals are increasingly commercializing prime fireworks spots through secondhand trading platforms and social media.
On the secondhand trading app "Danggeun Market," a recent post titled "Fireworks Tent Prime Spot Proxy Service" appeared. The poster offered to secure a prime tent spot from the night before in exchange for 180,000 won.
There have also been numerous posts offering to share high-rise apartments near Yeouido by the hour or rent out balcony spaces for over 500,000 won. In one case, a "top-floor Han River view accommodation rental" for four people was offered at 480,000 won.
One citizen commented, "This is an event held for free at the same place every year, but it is becoming increasingly difficult to get a prime spot without money," adding, "It's time to reconsider the public nature of urban festivals."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
