Guro-gu boom, a bang for the (renmin)buck

I recently mentioned Seoul's most expensive neighborhoods for opening shop (see "Six lanes of traffic"), but a recent article in Chosun Ilbo delivered a full picture at the district level for premium spaces, exposing a spectacular boom for Guro-gu and Geumcheon-gu (respectively +39.9% and +36.1% between 2011 and 2010 in the value per square pyeong)*. All districts posted gains (up to 12-15% for Gangbuk-gu, Jung-gu, Gangseo-gu, and Gwanak-gu), except Gangnam-gu (-1.8%), Dobong-gu (-2.2%), and Yongsan-gu (-11.2%).

As a result, the central and traditional office space strongholds Jung-gu and Jongno-gu moved to the top of the rankings, and Guro-gu jumped from the lower tier to third place. Gangnam-gu, the 2010 leader, was downgraded to 4th, and Seocho-gu (an anemic +0.2%) from 3rd to a distant 5th, threatened by Mapo-gu (+4.2%), and even Yeongdeungpo-gu (+8.1%).

The relative pause for the southern stars (Gangnam-Seocho) doesn't come as a surprise, following the bubble years. Yongsan's bad year is probably a side-effect of massive redevelopments: they're making room for the IDB and various new towns, particularly around Seoul Station (I'm really afraid the atmosphere around Malli-dong market** will not be the same after the evacuation).

Southwest Seoul is catching up nicely: Gangseo-gu certainly benefits from the new Line 9, and Geumcheon-gu from the Gasan Digital Complex, but as they develop their own infrastructures, Gyeonggi-do neighbors (e.g. Gimpo or Gwangmyeong) also contribute. On the other hand, they bring fresh competition: see how the new Lotte Mall Gimpo Airport is taking aim at such hotspots as Yeongdeungpo's Seoul Times Square.

So last year, it was Guro's time to shine. A nice reward for a district that discovers glamour after the transformation of Guro Industrial Complex into Guro Digital Complex (from factories to venture / IT startups), or the inauguration of D-Cube City***. Note that Garibong-dong, Seoul's center for Chinese communities, is naturally attracting Chinese money. Of course, along came the Chinese triads, and the fight for premium commercial space is raging at that level too, more than often involving North Korean / ethnic Chinese gangs. But that's an epiphenomenon, and don't picture yourself in the South Central L.A. of yore: you're in Seoul, and in Guro-gu, a vibrant district for families. Just enjoy the city!

Overall, another year of inflation: prime commercial estate surpasses KRW 100 M per pyeong* in 16 of the 25 districts, compared to 9 in 2010. But as expected, the gap between the 'richest' and the 'poorest' is decreasing: from 63% in 2010 (Gangnam-gu 126.6 M, Gangbuk-gu 77.590 M) to 58% in 2011 (Jung-gu 134.92 M, Dobong-gu 85.44 M).


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*see "구로구 점포 권리금, 강남구 앞질렀다는데" (20120208 Chosun Ilbo). NB: 1 pyeong = 3.3 square meter.
** see "Sungwoo Barbershop, Malli-dong Market"
*** about the latter, see "D-Cube City and Korean Food Street (Byeokgyesu)"

D-Cube City and Korean Food Street (Byeokgyesu)

If the recently inaugurated D-Cube City has quickly gained a solid reputation among local food lovers, it is well deserved.

Though less spectacular than Seoul Times Square (in nearby Yeongdeungpo-gu) architecturally speaking, the complex devoted more space for the comfort of its visitors, and developed a really original and consistent concept in the food department, with a clear editorial line around three major "verticals" : a trip back to 1920s Shanghai at "China Feng", a "World Street Food" with mouthwatering menus for Japanese food fans, and an already cult "Korean Food Street".

All three are located in the department store section (respectively 6F, B1, and B2), which also includes more classic restaurants and chains, and even a cute Pororo Theme Park. Beyond the dept store / mall : the D-Cube Arts Center, a D-Cube Park, the Sheraton Seoul D-Cube City (I took this view over Shindorim station and Guro-gu from their lobby - spectacular panorama on 41F), an outdoor park, offices and apartments... a major and ambitious project, but not a completely disruptive business model.

Now the food is really something you can't find elsewhere... The originality lies in the fact that it's really the original stuff. Cooks and dishes have been carefully sourced across the country and beyond. For instance, Michelin-starred Mist, the noodle expert, came from Tokyo. And even for such trivial stuff as ddeokbokki, the Chosen One is no other than Mimime : Hongdae's institution even closed shop there to open here - nothing changed regarding the queue, except that you don't have to wait outdoors anymore, and that you can do many other things while waiting for your food.

But the jewel of the crown is the Korean Street Food / Korean Food Street : a whole village full of life and terrific food. If the National Folk Museum of Korea were to propose a live show of Korean specialities, that would be it. The full course at Byeokgyesu costs only KRW 11,000 for lunch, and KRW 17,000 for dinner. It may look classic from a distance, but every single banchan has a unique story to tell and an incredible taste to reveal.

It's huge and seats hundreds, but very pleasant - you don't feel in some big food factory, rather in a festive village gathering. Everybody is smiling, simply enjoying the moment, sharing the experience.

D3 City (D-Cube City)
662 Gyeongin-ro, Guro-gu, Seoul 152-887 (360-51 Sindorim-dong)
website (nb: badly needs an update): dcubecity.com
Tel +82.2.2211.1000
D-Cube Korean Street Food / Korean Food Street (디큐브 한식 저잣 거리) : B2
Tel +82.2.2211.0730
. Byeokgyesu / 벽계수 (Korean Dining)
. Bandal / 반달 (Korean Pub)
. Yetsan / 옛산 (Korean Barbecue)
. Jatnamubae / 잣나무배 (Korean Snack)
. Dongjitdal / 동짓달 (Cafe)

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ADDENDUM 20110924
I found the business card I thought I'd lost, so I could detail the names of the different parts of the Korean Food Street, in particular the full course restaurant (벽계수).