[Interview] Jung Won-oh, Seongdong District Mayor: “Seongsu-dong to Emerge as Korea’s Fashion, Culture, and Art Cluster”

Seongsu-dong, a 'Hot Place' Centered on the MZ Generation, Gains Attention as a Cultural and Art Cluster with Headquarters of Famous Fashion Companies like Musinsa and Gentle Monster and the Relocation of SM Entertainment

[Asia Economy Reporter Park Jong-il] "Seongsu-dong has emerged as Seoul's representative city most noted by the fashion and cultural industries."

Jung Won-oh, Mayor of Seongdong-gu, Seoul, said in an interview with this publication, "For years, we have been confident that Seongsu-dong would become the 'Brooklyn of Korea.' Now, we are stepping closer to that goal."

In fact, since the mid-2010s, Seongsu-dong in Seongdong-gu has risen as the center of domestic trends, attracting fashion companies one by one. Representative fashion company headquarters such as 'Musinsa,' a unicorn company, and 'Gentle Monster,' which operates direct stores in 50 countries worldwide, are also scheduled to relocate their headquarters to Seongsu-dong by the second half of this year. The number of businesses in the F&B industry, including coffee shops and bakeries, increased by 84% in 2020 compared to 2018, and cultural industry sectors such as entertainment and performance planning businesses also grew by 60%.

Regarding Seongsu-dong, which has emerged as a 'hot place' centered on the MZ generation, Mayor Jung explained, "The urban regeneration project promoted since 2015 has created a unique charm by harmonizing the past and present of Seongsu-dong, which was a semi-industrial area." He added, "Especially near Seoul Forest Station, the 'Atelier Street' is conducting the 'Red Brick Building Support Project,' which provides incentives of up to 40 million KRW for preserving red bricks or constructing buildings using them. The 'red brick' has become a unique identity associated with Seongsu-dong." This has become an attractive element for the MZ generation, who value unique experiences.

He continued, "By significantly simplifying procedures such as acquisition tax reductions and building use approvals, and actively attracting knowledge industry centers, the number of such centers has increased to 63 so far. Through leading social venture company nurturing policies, about 350 social venture hubs have been established. There are even requests to increase subway exits at Seongsu Station and Ttukseom Station as jobs increase and young people gather," he said.

As young people gathered in the area, it transformed into a cultural and startup space, becoming more vibrant and boosting the commercial district.

Seongdong-gu's pioneering 'gentrification prevention policy' also played a role. To prevent the inevitable gentrification that occurs in so-called 'up-and-coming neighborhoods,' Mayor Jung and district staff visited building owners one by one to establish 'win-win agreements' between landlords and tenants, preventing rapid rent increases.

Mayor Jung explained, "By designating sustainable development zones and restricting the entry of large corporations and franchise businesses, we ensured that unique stores could operate without worry, striving to sustain the unique charm of Seongsu-dong for a long time." The gentrification prevention policy initiated by Seongdong-gu was legislated in July as the 'Act on Coexistence and Revitalization of Local Commercial Districts.'

In May, SM Entertainment, a leading domestic entertainment agency, relocated its headquarters to Seongsu-dong, drawing attention as a cultural and artistic cluster. Next to the Booyoung Hotel construction site, a performance hall with about 1,000 seats has been confirmed for construction, aiming for completion in 2024.

Mayor Jung Won-oh said, "The final step for Seongsu-dong to become a cultural hub is to attract a 'large-scale performance hall.' If we establish a cultural and artistic ecosystem harmonizing small to large performance halls and develop it as a regional landmark, Seongsu-dong and the Seongdong-gu area will truly become Korea's Brooklyn and a cultural and artistic cluster."

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