Sports Mega-events and Gangnamization in South Korea after the 1980s

Abstract

This study explores the relation between sports mega-events and the making of Gangnam in South Korea after the 1980s. This paper comprises a historical examination of urban planning processes and a case study focusing on the strategies and experiences of residents who has been purchasing apartments. The hosting of 1986 Asian Games and the 1988 Olympics triggered construction business, such as urban infrastructure and increasing housing supply. In particular, Jam-sil, Seoul was the site of huge construction projects that entailed the main stadium, Olympic parks, and athletes’ villages. The structure of housing supply has a shift from state-led development to property-led development, namely, the Joint Redevelopment Program ( JRP). The term Gangnamization is a concept used to describe a strong relationship among apartment, education fever, and shopping center for the urban middle class. However, the research results suggest that speculative urbanization in urban middle class will lead to a financial crisis.