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Vertical Business District, Seoul, South Korea

SEOUL SHANGHAI
Seoul is a vibrant mix of traditional markets, luxury boutiques and Shanghai blends traditional markets with high-end malls and
cutting-edge digital experiences. The city boasts iconic shopping e-commerce innovation. As China’s largest city, Shanghai is a
districts like Myeongdong, Gangnam and Dongdaemun, offering key retail hub, home to international luxury brands on Nanjing
everything from global fashion brands to local beauty products. Road and Huaihai Road, as well as thriving local fashion and
Department stores such as Lotte and Shinsegae blend luxury with lifestyle outlets. The city’s tech-savvy consumers drive strong
convenience, while tech-savvy consumers embrace e-commerce online sales, supported by platforms like Alibaba and JD.com.
and mobile payments. Seoul also supports indie designers through Experiential retail, smart stores and omni-channel strategies
concept stores and pop-ups. Traditional markets like Namdaemun are reshaping the sector. Despite global economic uncertainties,
and Gwangjang provide cultural depth, selling street food and Shanghai’s retail market remains resilient, fuelled by a grow -
crafts. Retail in Seoul is fast-paced, trend-driven and reflective of ing middle class, tourism and government efforts to promote
Korea’s dynamic fusion of innovation, tradition and consumer-fo- consumption and develop Shanghai as a global shopping desti -
cused service. One of the biggest projects in the world is due to nation. A recently opened project in this city was the Livat
begin construction here soon, the transformation of an abandoned Shanghai scheme. This project is the prototype of the new breed
train maintenance depot in the central district of Yongsan into an of urban centres by Swedish Group Ingka Centres. This unique
international business district, with the construction of a 100-floor ‘mixed-use meeting place’ anchored by Ikea connects neighbour -
skyscraper and a sky trail linking high-rises there as the centre- ing plots and a metro station to offer a green oasis in this busy
piece. Under the plans, the Seoul city government will develop the mega city. Its iconic design digs deep into the Scandinavian roots
roughly 500,000sq m of land into the world’s largest “vertical” city, of Ikea generating a sense of oneness thanks to the simplicity
with extensive green space. The district is scheduled to be built of stacked geometries and carefully selected materials. The
by 2030 so that businesses will begin to move into the futuristic mall features over 300 brands, with 71 per cent of them being
urban space in the early 2030s. market firsts or special concept shops.

Livat Shanghai, Changning, Shanghai, China

88 RETAIL & LEISURE INTERNATIONAL JUNE/JULY 2025