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Seoul is renowned for its sophisticated and image-conscious consumers, and is a gateway to other Korean cities. The expansion of new-to-market brands and an influx of tourists, most notably from Mainland China, are driving retail demand. Key shopping areas are the core districts of Myeongdong and Gangnam Station, trendy Garousu- Gil and Hongdae as well as the high-end Cheongdam precinct. Large-scale retail shopping malls include Lotte World Mall, Times Square, Starfield COEX Mall, and IFC Mall. Busy high streets have become prime locations for flagship stores in recent years, and this has attracted an increasing number of international retailers to take advantage of opportunities to expand their presence in the market
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9.6 m
Total Population
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GDP per Capita (USD)
Source: JLL, Oxford Economics (May 2018)