Loud dance music blares from speakers as throngs of people jostle their way through shop-lined streets. Fashionable young women hop from one shop to another, searching the racks for this season's trendiest clothes. Japanese tourists haggle with street vendors selling metallic-colored flats and faux leather handbags.
Welcome to Myongdong, the unofficial fashion capital of Seoul. Every day, thousands of people visit Myongdong, located in the heart of downtown. Filled with office workers grabbing a quick lunch, couples on a date, students window-shopping and tourists sightseeing, Myongdong is one of the most crowded places in the city.
Travel guidebooks always describe Myongdong as the mecca of Korean fashion. Even with the recent rise of Apkujong and Chongdam as Seoul's luxury shopping area, Korean fashion trends are still said to begin in Myongdong. Myongdong is still known as one of the most expensive places to open a business in Seoul.
Last year, global real estate services firm Cushman and Wakefield ranked Myongdong as the world's ninth most expensive shopping area. The annual rent is estimated to cost $376 per square foot or 17.7 million won per pyong.
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