Foreign tourists pose for photos on the steps of the Sejong Center for the Performing Arts in Jongno District, Seoul, in front of promotional materials announcing the comeback of BTS as a full group for the first time in three years and nine months this March. (Yonhap)
SEOUL, Feb. 2 (Korea Bizwire) — With a major concert by BTS set for March 21 in Gwanghwamun, central Seoul is already feeling the economic ripple effects, as hotels fill up, air travel demand rises and retailers prepare for a surge of overseas visitors.
Nearly two months before the performance, hotels across the Gwanghwamun, Myeongdong and Insadong areas are reporting near-total occupancy, with room rates climbing sharply. The rush has extended beyond luxury hotels to mid-range accommodations and even motels, where prices have in some cases tripled.
The Plaza Hotel, overlooking Seoul City Hall and Gwanghwamun Square, reached full occupancy for the concert date by late January — far earlier than usual for that period. Other major hotels, including the Four Seasons Seoul and the Westin Josun, are reporting unusually high booking rates, while industry officials expect most nearby hotels to be sold out from March 20 through 23.
According to data from the accommodation platform Yeogi Eottae, bookings in Jongno and Jung districts for March 20–21 jumped more than 450 percent from a year earlier. As demand surged, prices followed: a standard room at some business hotels now costs more than 600,000 won for the concert night, while motel rates near Anguk Station have climbed to nearly 500,000 won — comparable to weekday prices at five-star hotels.
The Plaza Hotel (Photo provided by Hanwha Hotels & Resorts, Hotel Division)
The anticipation of a global fan influx is also lifting expectations across the airline and restaurant sectors. Low-cost carriers reported higher-than-usual booking rates, particularly on routes from Japan and China, with some flights selling 20 to 40 more seats per aircraft than average.
Restaurants near Gwanghwamun have begun receiving inquiries for group reservations and venue rentals, though many operators are monitoring possible traffic restrictions on the day of the event before finalizing plans.
Retailers, meanwhile, are moving quickly to capture foreign tourist spending.
Department stores and duty-free operators are expanding multilingual services, increasing tax-refund kiosks and preparing special promotions targeting overseas visitors. Lotte and Shinsegae department stores plan large-scale discount events for foreign shoppers, while duty-free shops are curating Korean food, beauty and fashion products linked to the broader K-culture trend.
As large numbers of foreign tourists are expected to visit major attractions in Seoul ahead of the BTS concert, retailers are rolling out a range of promotions targeting overseas visitors. Lotte Department Store is offering instant discounts of up to 10 percent to foreign customers who present their passports at its K-fashion specialty zone, Kinetic Ground, at its Myeongdong main store and Jamsil branch. Customers who spend more than 200,000 won will also receive Lotte gift certificates worth up to 10 percent of their purchase.
The photo shows the Kinetic Ground at Lotte Department Store’s Jamsil branch. (Photo provided by Lotte Department Store)
Convenience stores and discount chains are also stockpiling high-demand items such as bottled drinks, instant noodles, snacks and mobile accessories in areas expected to see heavy foot traffic.
Industry officials say the concert underscores the growing economic influence of global K-pop events, which increasingly function not just as cultural moments but as major drivers of tourism, retail consumption and urban activity.
As one hotel executive put it, “This isn’t just a concert weekend — it’s a citywide event.”
Lina Jang (linajang@koreabizwire.com)
