Seoul is bracing for a massive influx of international tourists as BTS’ upcoming comeback concert at Gwanghwamun Square triggers a major demand shock, with downtown hotels hitting full capacity and travel searches for the capital skyrocketing.
The seven-member K-pop sensation will hold a free concert in downtown Seoul on March 21, a day after their fifth studio album “Arirang” is released. The Seoul Metropolitan Government announced on Jan. 22 that it granted conditional permission.
The BTS effect is most visible in data from major lodging platforms. According to the domestic travel app Yeogi Otte, reservation numbers for accommodations in the Jongno and Jung districts for the concert weekend surged by 450 percent compared to the same period last year.
Global interest is even more intense as Hotels.com reported that overseas searches for Seoul travel spiked by 155 percent within just 48 hours of the tour announcement on Jan. 14.
“We will prioritize safety management for both the audience and citizens visiting the square,” said Kim Chang-gyu, head of the city government’s Balance Development Headquarters.
The official added that Seoul aims to use this opportunity to transform Gwanghwamun Square into the heart of K-pop, while conducting strict on-site inspections of nearly 700 lodging facilities to prevent unfair pricing.
Hotels located in downtown Seoul have already seen bookings surge. The Plaza Seoul, where guests can enjoy a direct view of the square, recorded a 100 percent reservation rate for March 21 as early as late January. Other five-star venues, such as the Four Seasons Hotel and the Westin Josun Seoul, are also reporting near-full capacity for the concert dates.
A similar phenomenon is happening in Busan, where the group is scheduled to perform at the Busan Asiad Main Stadium on June 12 and 13. Consumers reported that room rates in Busan, which were usually priced around 100,000 won ($69) per night, jumped to as much as 900,000 won for the concert dates.
In response to these price hikes, Busan Metropolitan City has launched on-site inspections and a QR code-based reporting system to crack down on unfair practices and stabilize the market.
The retail industry is also moving fast to capitalize on the surge in foreign visitors.
Lotte Department Store announced a special promotion from March 19 to 29 offering tax-free benefits and instant discounts for overseas shoppers at its flagship store in Myeong-dong, Seoul. Shinsegae Department Store and Shinsegae Duty Free also plan to boost membership benefits and Korean beauty brand showcases to welcome international tourists.
Discount retailers like Daiso and fashion platforms like Musinsa are also reportedly increasing their inventory of products popular with tourists at their branches in Myeong-dong and Hongdae.
