The Neighborhood Loved by the MZ Generation, Seongsu-dong... Companies Also Flock There. 'Seoul Forest The Space' Draws Attention

- Persistent Office Supply Shortage in Seoul's Major Business Districts... Seongsu-dong Knowledge Industry Center as an Alternative
- Double Subway Line Access at Line 2 and Suin-Bundang Line... Well-Organized Road Network in a Key Transportation Hub

If you were to pick the hottest emerging area in Seoul this year, Seongsu-dong would undoubtedly be at the top of the list.

Seongsu-dong was once a light industrial area concentrated with printing, handmade shoes, and leather industries. However, it is now hard to find traces of its past. The unique and differentiated atmosphere created by the harmonious blend of past and modern culture is attracting the MZ generation.

Converted factories and warehouses have become cafes and restaurants, evoking an analog retro vibe that the MZ generation has never experienced before. While areas like Hongdae and Itaewon captivated the MZ generation with their exotic atmospheres, Seongsu-dong charms them with a newtro atmosphere that mixes the past and present. Moreover, being close to the Gangnam area and developing as a commercial district frequented by the MZ generation has further increased Seongsu-dong’s value.

As the atmosphere of the Seongsu-dong area has clearly changed, major domestic companies are flocking there. This is because the MZ generation is the quickest to recognize sophisticated culture and also the fastest to spread it. Seongsu-dong, the sacred place for the MZ generation, is being utilized as a promotional ground for major domestic companies.

In fact, Seongsu-dong has become a marketing battleground for major domestic companies. Many brands, including Dior Seongsu, are opening pop-up stores here instead of Gangnam, Hongdae, or Itaewon, spreading their products and services to customers. Additionally, showrooms are being created, and various events and exhibitions are held, with companies actively promoting and marketing themselves.

Due to this atmosphere, the number of companies relocating their headquarters to Seongsu-dong is increasing. This is primarily to understand the culture of the MZ generation and reflect it in their marketing strategies. SM Entertainment was the first to move its headquarters to Acro Seoul Forest in Seongsu-dong, and Cube Entertainment has also relocated its headquarters there.

Recently, unicorn companies leading the fashion and culture industries, as well as IT startups, have also chosen Seongsu-dong. IT company Krafton purchased the Emart headquarters building in Seongsu-dong last year and plans to develop it into a complex building including their headquarters. Musinsa also purchased land in Seongsu-dong 1-ga and is currently constructing its headquarters. Various other cultural and content companies are preparing to relocate their headquarters to Seongsu-dong as well.

Furthermore, Seongsu-dong has a locational advantage adjacent to the Gangnam area and easy access to Gyeonggi Province via the Bundang Line, so it is expected to secure its status as an independent business district faster than Pangyo. Mr. ‘K’, who operates real estate in Seongsu-dong, emphasized that the area, where entertainment, fashion, gaming business districts, retro culture, and knowledge industry centers are mixed, will become “a unique area hard to find anywhere else in Seoul.” This is not surprising because Seongsu-dong is a distinctive area where retail and business districts are well combined, making it very attractive to foreign investors. Thanks to these favorable conditions and development potential, higher investment returns are expected compared to other office districts, and Seongsu-dong is receiving special attention from asset management companies and developers.

Amid the growing attention on the Seongsu-dong area, a knowledge industry center is about to be launched for sale. The protagonist is the ‘Seoul Forest The Space Knowledge Industry Center’ being built in Seongsu-dong 1-ga, Seongdong-gu, Seoul, with Hyundai Asan as the construction company.

‘Seoul Forest The Space’ will be constructed with 5 basement floors and 12 above-ground floors, with a total floor area of approximately 25,000㎡, including a knowledge industry center and neighborhood living facilities. It offers a variety of unit sizes ranging from 30㎡ to 115㎡, broadening the selection options for prospective tenants.

This knowledge industry center is expected to serve as a growth platform for cultural and content production companies, which are high value-added industries based on advanced knowledge.

The greatest strength of this knowledge industry center lies in its excellent location rivaling Gangnam. Both Suin-Bundang Line’s Seoul Forest Station and Subway Line 2’s Ttukseom Station are within a 5-minute walk, making commuting convenient for employees of tenant companies.

The surrounding road network is also well developed. Crossing the nearby Seongsu Bridge or Yeongdong Bridge leads directly to Gangnam (Apgujeong-dong, Cheongdam-dong). Additionally, via Gangbyeonbuk-ro and Olympic-daero, one can quickly reach central business districts such as Gangnam (Samseong-dong), Jamsil, Hannam-dong, Yongsan, and Yeouido. Access to Dongbu Expressway and Internal Circulation Road is also easy. In fact, Seongsu-dong is practically a transportation hub in Seoul.

Employees of tenant companies can easily enjoy rest and leisure activities through nearby convenience facilities, and Seoul Forest, one of Seoul’s representative large parks, is also close by.

A sales promotion center is currently operating, and letters of intent for tenancy are being accepted.

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