Pharmacies in Jongno-gu, Seoul, Average Annual Sales of 1.25 Billion KRW... Twice That of Gangnam-gu

Jongno-gu Leads Seoul in Average Pharmacy Sales
Large Pharmacies in Jongno-gu Drive 'Low Margin, High Volume' Success
Average Sales in Jongno-gu Outpace Other Districts by Over Four Times

Last year, among the autonomous districts of Seoul, pharmacies in Jongno-gu recorded the highest average sales, amounting to 1.25 billion KRW. In contrast, Gwanak-gu, Gangbuk-gu, and Geumcheon-gu recorded sales in the 200 million KRW range, which is less than a quarter of Jongno-gu's figures.

According to the pharmacy industry store status estimated and disclosed by OpenUp, an AI commercial district analysis platform by fintech company Finda, the sales of 6,023 pharmacies in Seoul last year were estimated at approximately 2.73 trillion KRW, a 3.5% increase from the previous year.

Last year, the sales per pharmacy in Jongno-gu, Seoul, were recorded as 1.25 billion KRW, the highest among Seoul's autonomous districts. Yonhap News

By autonomous district, Gangnam-gu pharmacies ranked first with sales of about 350 billion KRW, followed by the total pharmacy sales in Jongno-gu in second place, with Songpa-gu and Seocho-gu trailing behind.

However, the average sales per pharmacy were overwhelmingly highest in Jongno-gu, where 209 pharmacies averaged about 1.24 billion KRW. Seodaemun-gu, with 176 pharmacies, ranked second with about 690 million KRW, and Gangnam-gu, which has the most pharmacies at 585, ranked third with about 600 million KRW. The gap between first and second place is twice as large.

While the average sales per pharmacy in Jongno-gu increased by 9.8% compared to the previous year, the average sales in Gangnam-gu decreased by 3%.

The average sales per pharmacy in Jongno-gu exceeded those in Gwanak-gu, Gangbuk-gu, and Geumcheon-gu by more than four times. This is attributed to the presence of large pharmacies concentrated in areas such as Jongno 5-ga pharmacy street.

As visits to large pharmacies in Jongno-gu, which employ a 'low margin, high volume' strategy, increased, the average sales growth rate of pharmacies in Jongno-gu last year recorded 9.8%, the highest among autonomous districts. Compared to the overall average pharmacy sales growth rate of 0.6%, this is nearly 16 times higher.

Jongno-gu is undoubtedly called the sanctuary of pharmacies. Centered around Boryeong Pharmacy, a Seoul Future Heritage site that opened in 1957 and has maintained its legacy for over 60 years, large pharmacies line the area. Pharmacies densely gathered from Jongno 5-ga to Jongno 3-ga and Namdaemun compete in a low margin, high volume manner, resulting in bustling business 365 days a year. Especially with nearby locations such as Gwangjang Market, pharmacies are considered one of the must-visit stops.

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