Secrets behind Korea’s economic success

A 2015 video documenting Korea’s economic success, from one of the poorest nations to a global economic power in six decades.

Source: Korea Foundation

Kim Yu Na KB Insurance Commercial

Former figure skating star Kim Yu Na looks bright and beautiful in a TV commercial for KB Insurance which was broadcast in summer 2016.

Korea’s mecca of jewelry in Jongno

Arirang TV explore the alley’s of Jongno’s jewelry district in central Seoul.

Source: ArirangToday

Seoul is the world’s 10th most popular destination city

Seoul is ranked number 10 in the latest MasterCard’s annual Global Destination Cities Index (GDCI). It’s reported that 10.2 million overnight visitors traveled to the city, with December-January and October the peak months.

Seoul tourists spent 58.7% of their expenditure in shopping, which is a lot compared to other cities in the index (most in 15-25% range). It proved that Seoul is Asia’s shopping mecca, but it also affirmed recent concerns that Seoul is too reliant on “shopping tourism” and neglecting other possible attractions and city image.

Another possible problem is the dominance of Chinese tourists, which contributed 50% of the foreign visits. It’s not a bad thing in short term but it again showed a lack of diversity in Korean tourism planning. The flow of Chinese tourist could easily be affected with political issues like the recent THAAD plan.

The top 10 cities in the ranking are Bangkok, London, Paris, Dubai, New York, Singapore, Kuala Lumpur, Istanbul, Tokyo and Seoul.

Source: MasterCard

Superrich stays in Yongsan

According to corporate information provider Chaebul.com (kr), 19 percent of rich individuals owning over 100 billion won ($88 million) in stocks live in Hannam-dong and Itaewonm both of which are in Yongsan-gu, Seoul.

The Itaewon residents include AmorePacific chairman Suh Kyung-bae as well as those from the Samsung family, i.e. chairman Lee Kun-hee, Samsung Electronics vice chairman Lee Jae-yong and Samsung C&T fashion business chief Lee Seo-hyun.

Those living in Hannam-dong include Hyundai Motor Group chairman Chung Mong-koo, SK Group chairman Chey Tae-won, LG Group chairman Koo Bon-moo, Shinsegae Group chairwoman Lee Myung-hee and SDJ Corp chairman Shin Dong-joo.

The reports also echoed that Greater Gangnam is the rising zone with many younger superrich – including many second generation of the families mentioned above – chose to stay in that region in Seoul instead.

Source: Koreaherald