2024.12.08 (일)

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English

Netflix 'Culinary Class Wars' Moves Korean Commercial District

 

[NewsSpace=Jack Moon] In Netflix's popular show 'Culinary Class Wars' a remark made by a 'Black Spoon' chef captured the hearts of viewers.

 

Faced with dishes from "White Spoon” chefs, who were armed with high-quality ingredients and extravagant plating, the Black Spoon chef responded with unique interpretations and creativity. This seemed to symbolize a broader shift in the landscape of Seoul's commercial districts.

 

Just as the culinary world is divided into Black and White spoons, Seoul's commercial areas have long been categorized into 'Gangnam' and 'other districts' However, recent data related to commercial districts indicates that this structure is beginning to waver. As Black Spoon chefs challenge established authorities, new commercial areas are starting to disrupt the traditional Gangnam-centric model.

 

According to RA from RSQUARE, the restaurant locations of chefs featured on the show forecast new trends in Seoul's commercial districts. These locations are not just addresses; they serve as indicators of the future of Seoul's commercial landscape.

 

Restaurants from the chefs in 'Culinary Class Wars' are evenly distributed across Seoul, but are notably concentrated in Gangnam (6), Yongsan (6), and Seongdong (4). This indicates an expansion beyond the traditional Gangnam-centric commercial area into emerging regions like Yongsan and Seongdong.

 

Notably, Yongsan is on the rise. New openings in Yongsan's F&B sector rose by 30% in the second quarter of 2024 compared to the same period last year. This surge is closely tied to the presence of six restaurants in Yongsan led by chefs from 'Culinary Class Wars.'

 

Meanwhile, Gangnam remains highly popular. According to RA, rent for medium to large commercial spaces along Dosan-daero was 154,176 KRW per 3.3 square meters in the second quarter of 2024, a persistently high rate. However, the vacancy rate in this area dropped significantly—from 17.1% in the third quarter of 2023 to 2.5% in the second quarter of 2024—largely due to the influx of new F&B businesses.

 

The Seongdong area is also noteworthy. In the first half of 2024, F&B sales in Seongdong rose by 25% year-over-year, likely driven by the presence of four restaurants owned by ‘Culinary Class Wars’ participants.

 

Interestingly, the restaurants of Black Spoon chefs are primarily concentrated in Yongsan (5) and Seongdong (2). According to RA, over 60% of new tenants in these areas in the first half of 2024 were under 30, suggesting that young chefs are choosing these locations—where rent is relatively affordable—as grounds for new ventures.

 

On the other hand, White Spoon restaurants are predominantly located in traditional high-end areas like Gangnam (5) and Seocho (1), reflecting their greater economic capacity to support the costs associated with established reputations and high rents.

 

However, these changes do not fully replace traditional commercial areas. Data shows that 70% of new F&B openings in Yongsan and Seongdong in the first half of 2024 were expansions of existing businesses, suggesting that these emerging areas are becoming experimental grounds for established brands

 

Media influence, exemplified by Culinary Class Wars, along with data confirming shifts in commercial districts, hints at a changing retail landscape. Traditional high-end areas like Gangnam are now coexisting with emerging districts such as Yongsan and Seongdong, adding diversity and dynamism to the market.

 

How will these changes reshape Seoul’s commercial landscape? The answer lies in the data.

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