[Mun Honam's Shoot and Write] Over 100 Businesses Closed in Myeongdong Due to 'COVID Impact'

Myeongdong Commercial Area Crisis... 4 Out of 10 Stores Vacant, Closed Shops Captured on Camera

Vacant stores have been steadily increasing in major commercial districts due to the prolonged COVID-19 pandemic. Myeongdong, Seoul's representative commercial area, is seriously affected, with 4 out of 10 stores empty. According to the "2021 Q1 Commercial Real Estate Lease Trend Survey" released by the Korea Real Estate Board, the vacancy rate of medium to large stores in Myeongdong was recorded at 38.4%. Rental inquiries, temporary closure, and business termination signs are posted on Myeongdong shops. Photo by Moon Honam munonam@

The worries of small business owners and self-employed individuals are deepening. Photo by Moon Honam munonam@

[Asia Economy Reporter Moon Honam] On a weekday afternoon with clear spring weather, Myeongdong was not just quiet but gloomy. Due to the prolonged COVID-19 crisis, foreign tourists have stopped coming, and rental inquiry stickers are posted all over the stores. The alley that once housed about 20 various brand cosmetic shops has turned into a parking lot. These are work vehicles for store demolition. The street vendors who used to line the middle of the road have disappeared. Merchants waiting for customers are looking at their phones with bored expressions. The entire Myeongdong commercial district appears to be facing a crisis.

Four out of ten stores in Myeongdong are vacant. According to the '2021 Q1 Commercial Real Estate Lease Trend Survey' announced by the Korea Real Estate Board on the 28th, the vacancy rate of medium to large stores in Myeongdong was recorded at 38.4%. A representative from the Real Estate Board explained, "The prolonged COVID-19 pandemic has led to decreased sales and increased closures, resulting in a higher vacancy rate for medium to large stores."

When will the bustling Myeongdong streets filled with shoppers return? We hope the COVID-19 situation calms down soon so that local small business owners and self-employed people can smile brightly again. While walking through Myeongdong, we captured about 100 closed stores on camera.

/Photo & Text = Reporter Moon Honam munonam@

The alley where brand cosmetic stores used to gather has turned into a parking lot. Photo by Mun Ho-nam munonam@

Workers are carrying out tasks at the closed Uniqlo Myeongdong Central Store. Photo by Moon Honam munonam@

Vehicles are parked in front of a closed store. Photo by Mun Ho-nam munonam@

Vacant stores are increasing due to the shock of COVID-19. Photo by Mun Ho-nam munonam@

A chair is wrapped with an access control tape. The store behind it is closed with the lights off. Photo by Moon Ho-nam munonam@

I hope that as the COVID-19 situation settles, smiles will fully bloom on the faces of local small business owners and self-employed individuals. Photo by Mun Ho-nam munonam@

This content was produced with the assistance of AI translation services.