The high-end districts of Gangnam have symbolized Koreans’ intense fervor for education, glitzy streets, luxury goods stores, a bustling nightlife, and the convergence of innovative technologies.
Here's how Koreans think of Gangnam
It took only a few decades for muddy farmland to turn into the center of everything.
Seoul Museum of History
It took only a few decades for muddy farmland to turn into the center of everything.
Some of the apartments in the earliest years of Gangnam stand to this day.
Seoul Museum of History
Oddly, some of the richest neighborhoods in Greater Gangnam hide in shabby buildings.
Seoul Museum of History
An Apgujeong Hyundai apartment, built 4 decades ago, was transacted for W8,000,000,000 ($6.8 million) in 2021
Seoul Museum of History
The hype about wearing-out apartments stems from expectations...
... that house prices will see sudden upshots over the course of reconstruction.
Source: KB Real Estate Liiv
Why is the allure of Gangnam neighborhood so sweet?
“Residents in a Gangnam neighborhood often have a sense of belonging that makes them feel comfortable and accessible to the upper class of society.”
University
“The problem is not just about soaring prices, but also the high competition to get jeonse apartments because many want to live here in spite of facing a dramatic price surge.”
A resident in Gangnam-gu, Seoul
Renters in posh Seoul neighborhoods struggle to stay afoot as housing boom pushes rents to extreme, but lure of social status remains powerful.
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Written by
Son Ji-hyoung, Jie Ye-eun, Byun Hye-jin
Photos & videos by
Kim Si-yeon, Park Hyun-koo, Son Ji-hyoung