Weekly Korean Market Update (11/14~11/20)

2022. 11. 21 · SPI

Providing Up-to-date news and contents of Korean commercial real estate market including investment, REITs and market players.

Floating Population of Myeongdong Recovers to Pre-pandemic Levels A study has found that the floating population of the Myeongdong area has recovered to pre-pandemic levels. The study released on November 16 by Ministry of SMEs and Startups and SEMAS revealed that the average daily floating population of Myeongdong as of last August was 115,441, which is similar to in December 2019 (129,862) right before the COVID-19 pandemic hit. This is about 1.4 times higher than the same period last year (82,386). Easing of social distancing rules and an increase in foreign tourists are reasons for this change. The vacancy rate in the Myeongdong commercial district has also decreased. According to […]

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