Seoul Subway Stations Face Flood of Dual Naming Opportunities

"In June, a flood of naming rights listings at hot subway stations"

Starting June 7, public bidding begins for naming rights at 30 major stations including Seongsu and Sinsa, closing on the 21st

Participating companies and institutions undergo review for appropriateness of station names and are selected based on 1st and 2nd round bidding results

From station nameplates to announcement broadcasts, various promotions for 3 years, with a 90% contract renewal rate earning 'high praise'

In June, a flood of naming rights listings at major subway stations in Seoul is expected.

Seoul Metro (President Baek Ho) announced that starting June 7, it will conduct paid naming rights bidding for a total of 30 stations on Seoul Subway Lines 1 to 8.

The bidding will close on June 21.

Station naming rights refer to adding a secondary station name alongside the existing station name. The secondary name can be displayed on 10 types of targets including pole sign nameplates, entrance nameplates, platform nameplates, safety door nameplates, single and comprehensive route maps on safety doors, and single route maps inside trains.

The 30 stations up for bidding this time include 18 stations whose contracts from 2017 are expiring and 12 stations newly opened for bidding.

Notably, Gangnam Station, which ranks first nationwide in annual subway passenger volume, and Seongsu and Sinsa Stations, popular among young crowds and foreign tourists, are newly included, drawing attention.

Additionally, existing naming rights holders at stations such as Jonggak Station on Line 1, where many bank headquarters are concentrated, are also expected to participate in the bidding again, which is a point of interest.

The bidding is conducted through Onbid and is divided into 18 existing contract stations and 12 new bidding stations.

To participate in the naming rights bidding, the company or institution must be located within 1 km of the target station (within Seoul city limits; extended to within 2 km for outside Seoul). The winning company or institution can display their desired institution name as the secondary station name for 3 years and may extend the contract once for another 3 years without re-bidding.

Considering the public interest nature of station names, the Metro holds a review committee after bidding to decide the final winning institution. After winning, the naming rights are implemented in earnest by replacing a total of 10 guide signs including announcement broadcasts over 60 days.

Paid naming rights are an effective promotional tool to widely publicize institutions and companies to numerous subway users. About 90% of those who previously signed naming rights contracts have renewed, showing high satisfaction with the promotional effect, and many companies and institutions participated when the naming rights project expanded in 2022.

Paid naming rights not only promote companies but also serve as a lucrative business helping the Metro alleviate financial difficulties, offering a win-win advantage.

As of June 2023, 38 institutions at 42 stations are participating in the naming rights project, generating a total ancillary revenue of 16.98 billion KRW.

Baek Ho, President of Seoul Metro, said, "Among subway stations, some have high recognition or large passenger volumes, making them highly effective for advertising. We hope nearby institutions and companies actively utilize the naming rights project as a promotional tool." He added, "In promoting the naming rights project, we will select companies that have regional uniqueness and representativeness, not focusing solely on business feasibility."

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