Busan district usurps Seoul rival as Korea`s top trendsetter

Busan district usurps Seoul rival as Korea`s top trendsetter. July. 13, 2012 23:41. salthj@donga.com.

In 2003, the opening of Star Super grabbed national attention in Korea. Claiming to be the country`s most luxurious supermarket, Star Super was opened by Shinsegae in the basement of Tower Palace, the most luxurious residential building in Korea located in Seoul`s Gangnam district.

Star Super sells high-end agricultural, livestock and fishery products that cost multiple times more than regular products. Its shelves are full of imported food rarely found in other places nationwide, and many simply go to see expensive food products.

Ten years after the opening of Star Super, Shinsegae on June 29 opened the first branch of its premium supermarket SSG in Haeundae I-Park, a 72-story multi-purpose building in Korea’s largest port city of Busan, not Seoul. The store was named Marine City, and the second SSG store was opened in Seoul on July 6.

SSG is claiming to be a Korean version of a premium supermarket like Chelsea Market in New York or Whole Foods Market specialized in natural and organic products in the U.S.

On Tuesday, Marine City was selling a variety of food products rarely seen even in Seoul. Covering 3,088 square meters, the store had items from the British premium supermarket Waitrose, the nutritional food line Fullbar, a full bar and a section dedicated to functional salt products.

The Haeundae district of Korea`s No. 2 city has emerged as the "trend-setter," overtaking the posh Seoul district of Gangnam.

○ More companies choosing Haeundae over Gangnam to open their first store in Korea

Luxurious restaurants and cafes are being opened day after day in Haeundae. Many companies are choosing the Busan district as a test market in the early stage of their business.

For example, Madame Tussauds, the world famous exhibitor of wax figures, opened a temporary exhibition hall within Shinsegae at Centum City in Busan, and now is considering building a permanent facility.

Japanese Trial Co., Inc. based in Fukuoka, Japan, opened its first medium-size supermarket Trabox in Haeundae in March last year.

High-end luxury six-star hotels are also advancing into Haeundae. The Park Hyatt Busan, which is under construction, will have the world’s first three-story luxurious banquet hall. The hall will be named Private Dining Room, and chefs will cook at the side of tables and serve customers.

○ Haeundae attracts high-end restaurants and SPAs

With its fashion-conscious and high-income young residents, Haeundae has been dubbed a "trend city." According to research by Shinsegae, residents there spend 20 percent more than Seoulites on food per person.

A source from a real estate consulting company said, “More than half of the high-income population in Haeundae are either lawyers or people who run their own businesses such as hospitals,” adding, “These people are familiar with foreign cultures and frequently eat out.”

The opening of the Busan-Ulsan Expressway and the Geoga Bridge also paved the way for the rich in Ulsan and Geoje Island to frequently visit Busan for shopping, which has greatly contributed to the change in the market and culture of Busan.

With the rise of the upper middle-class who are interested in quality education in Korea`s largest port city, famous private academic institutes in Seoul are opening branches in Busan.