'70% of Customers Are Foreigners!'... Exploring Hannam-dong's Fashion Hotspot Rivaling Seongsu-dong [Report]

[Financial News] On the 21st, the fifth floor of MOSAIC HANNAM in Hannam-dong, Yongsan-gu, Seoul, was bustling. The German specialty brand Bonanza Coffee occupies a spot there, offering a panoramic view of the Hannam-dong area through its glass windows. Descending the stairs, the café ambiance seamlessly transitions into a fashion select shop. Starting with Matin Kim on the first floor, brands like depound, TREEMINGBIRD, Lowtide, Le17Septembre, and SALTY PEBBLE each create their own unique atmosphere. The variety extends beyond clothing to accessories such as phone cases and bags, allowing visitors to experience the distinct characteristics of each brand.
According to industry sources on the 23rd, MOSAIC HANNAM has recently become a new destination for foreign tourists visiting Hannam-dong. This multi-complex store, opened in September with investment from the fashion platform HAGO, features a structure where the first-floor café and the showrooms of fashion brands on the second and third floors are connected in a single flow. By October, just two months after opening, it had achieved 143% of its monthly sales target, quickly establishing itself as a landmark in the area.
HAGO's approach to Hannam-dong goes beyond simply opening a store. Much like MUSINSA in Seongsu-dong or Lotte Town in Jamsil, HAGO is strengthening its strategy to expand Hannam-dong into its own brand town by connecting depound’s flagship and MOSAIC HANNAM as key locations. By linking fashion, cafés, and lifestyle content within a single district, HAGO aims to deepen the brand experience.


Since the COVID-19 pandemic, Hannam-dong has expanded its reputation as a fashion district, building on its image as a luxury shopping area. In addition to international luxury flagships like Dior, Celine, and Burberry, brands such as Musinsa Standard, MLB, Mardi Mercredi, and K-beauty labels have moved in, broadening the district’s spectrum. Notably, K-fashion brands like depound and Mardi Mercredi attract large numbers of foreign tourists, transforming Hannam-dong from a simple tourist spot into a destination for immersive brand experiences.
Bonanza Coffee also reinforces the character of the space. Bonanza, a brand in which HAGO made an early investment in 2021, is now preparing to expand into the Seongsu and Hannam areas, starting with this Hannam location. The high proportion of foreign visitors to Hannam-dong is a positive factor. On weekdays, over 70% of visitors are foreigners, and on weekends, the ratio of foreign to local customers is nearly equal, reflecting strong tourist demand. Based on the proportion of foreign visitors alone, Hannam-dong is now regarded as a leading 'K-brand shopping spot.'

Through this multi-complex, brands such as Lowtide and SALTY PEBBLE have opened their first offline stores. The steady stream of existing customers who previously engaged with these brands online is helping to build an offline fan base. HAGO is intensifying its strategy to create 'experiential hubs' that foster brand loyalty beyond simple sales. Following the launch of depound’s flagship in Hannam-dong in 2021, HAGO is accelerating the development of a brand town by investing in MOSAIC HANNAM and expanding its presence in the district. The company is also strategically considering ways to link its Food and Beverage (F&B) portfolio, including Bonanza, with the expansion of its fashion brands. An industry insider commented, "The latest retail trend is shifting from single stores to transforming entire districts into platforms for brand experiences. Hannam-dong is an ideal area for showcasing brand images, making it a region of great strategic significance for HAGO."
[email protected] Lee Jeong-hwa Reporter