To Offset Losses Seoul Subway System Sells Station Naming Rights

Considering all the people that ride the Seoul subway system it still loses money and is now relying on selling station naming rights in order to make money:

Seoul Metro, the operator of Subway Line Nos. 1 through 9 within the capital, announced Aug. 12 that it had sold the co-naming rights for several subway stations, including Seongsu Station, Gangnam Station, Yeouinaru Station and Sangbong Station, through a bidding process held from July 25 to Aug. 6.

Co-naming rights to Seongsu Station and Gangnam Station were acquired by CJ Olive Young, a health and beauty retailer under CJ Group, and Haru Plant Dental Clinic for 1 billion won ($740,000) and 1.11 billion won, respectively. The co-naming rights to Yeouinaru Station sold for 222 million won, while the price for Sangbong Station was not disclosed due to confidentiality issues.

The prices for Seongsu and Gangnam stations, in particular, set new records, surpassing the previous high of 870 million won for Euljiro 3(sam)-ga Station, purchased by Shinhan Card in 2022.

Korea Herald

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