--- title: "Gapyeong, Yangyang, Jeju, Gyeongju, Yeosu: How Pension Prices Compare — Trends Matter More Than You Think" description: "Off-season vs. peak season pricing dynamics at Korea's top tourist destinations" published: 2024-07-22T03:00:00+00:00 author: "ONDA 편집팀" category: "Insights" image: "https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e0a7317892ac1603b1d7b_jakub-zerdzicki-LgE3whpa5VA-unsplash.jpg" canonical: https://global.onda.me/en/blog?slug=gapyeong-yangyang-jeju-gyeongju-yeosu-pensyeon-gagyeog-bigyo-teurendeu-yeonghyang-maeu-keuda locale: en --- # Gapyeong, Yangyang, Jeju, Gyeongju, Yeosu: How Pension Prices Compare — Trends Matter More Than You Think Hi, this is ONDA. Last week we covered pension and pool villa pricing across Korea's provinces (Gangwon-do, Jeju-do, etc.). Hope it gave operators wrestling with weekday vacancies some useful insights. This time we're zooming in. We'll compare off-season and peak season pricing at five iconic Korean travel destinations: **Gapyeong (Gyeonggi)**, **Yangyang (Gangwon)**, **Jeju City (Jeju)**, **Gyeongju (North Gyeongsang)**, and **Yeosu (South Jeolla)**. For this analysis, "off-season" means Jan 1 – Mar 31, and "peak season" means Jun 15 – Jul 15. ### **Yangyang — Go After Gen Z and Millennials** Riding the surfing boom, Yangyang has become one of Korea's hottest travel spots. So what happened to pension and pool villa pricing in the off-season? The standout trend: budget-friendly ₩50,000–₩100,000 pensions dropped from 44.3% of bookings in 2023 to 33.9% in 2024 — a 10+ percentage point decline. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d0688b01d0179fb4898_23_24_.jpg) This signals just how hot Yangyang has gotten. In our [last nationwide pricing piece](https://www.onda.me/blog/jeongug-pensyeon-gagyeog-donghyang-gaseongbi-reogsyeori-yanggeughwa), we saw budget pensions gaining share nationwide — but Yangyang bucked the trend, with demand spreading to higher price tiers even in the off-season. Bookings for ₩200,000+ properties also grew. Yangyang's off-season pricing is diversifying — the budget concentration is easing, and demand is spreading across price bands. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d3bf43d2d8ae13d5457_23_24_.jpg) Peak season, though? Different story. In 2024, ₩50,000–₩150,000 properties gained 6.8pp share vs. last year. **Competition in the ₩100,000–₩150,000 band is especially fierce.** Yangyang also diverged from the national trend: demand for ₩250,000+ luxury properties actually *fell* in peak season compared to 2023. Since Yangyang — like nearby Gangneung — [draws mostly visitors in their 20s and 30s](https://imnews.imbc.com/replay/2024/nwtoday/article/6570620_36523.html), demand for high-end family-oriented properties is weaker than in other regions. Takeaway: Even in high season, jacking up prices doesn't guarantee bookings in Yangyang. Thoughtful pricing wins. ### **Gapyeong, the Pension Mecca — Average Rates Rising Across the Board** ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d463fdc494d22ab8be8_23_24_.jpg) Seoul-adjacent areas are seeing fast-growing demand for higher-priced pool villas, kids' pensions, and pet-friendly pensions. If Yangyang is the surfing mecca, **Gapyeong is the pension mecca** — and its higher average rates reflect the value guests place on on-site amenities. Properties priced ₩150,000+ grew from 48% of bookings last year to 54% this year. Meanwhile, ₩50,000–₩150,000 properties dropped 4.9pp. Gapyeong's family-traveler base (vs. Yangyang's younger solo/couple crowd) clearly drives this pricing power. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d55adeccd33818c9950_23_24_.jpg) **Peak season shows the same upward tilt.** Properties in the ₩100,000–₩150,000 range command about 10pp more share than ₩50,000–₩100,000 properties. I booked a kids' pool villa in Gapyeong for my own family recently. Even with an ONDA employee discount (yes, our company subsidizes our own vacations — perks!), 2 weekday nights cost well over ₩500,000. Gapyeong has a massive pension supply, so competition is intense and operators are tuned into trends. But it also sustains higher rates than almost anywhere else in Korea. ### **Jeju City — Domestic Tourism Slump Pushes Prices Down** ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d5f4f481b863b196f19_23_24_.jpg) If there's one place where off-season rates fell hardest year-over-year, it's Jeju City. Outbound travel surged, and [Korean visitors to Jeju dropped significantly](https://news.kbs.co.kr/news/pc/view/view.do?ncd=7975819). As a result, ₩100,000–₩200,000 properties plunged from 54.5% of bookings last year to 31.2% this year — a 23.3pp collapse. **Meanwhile, budget ₩50,000–₩100,000 pensions surged to 37.9% — up nearly 40% vs. 2023.** ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d69adeccd33818cb23f_23_24_.jpg) Peak season saw the same downward drift. Jeju requires higher upfront travel costs (flights, ferry) than other regions. And according to Korea Tourism Data Lab visitor demographics, Jeju skews young. ![Source: Korea Tourism Data Lab](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e0fdf5766fef75997c4ae_.png) Jeju's 20–30s visitor share is even higher than Yangyang's. That means operators need to be even more disciplined about value pricing to stay competitive. ### **Gyeongju vs. Yeosu — Gyeongju Goes Upmarket, Yeosu Slides** ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d76415de9a840244ed2_23_24_.jpg) Gyeongju (North Gyeongsang) and Yeosu (South Jeolla) are moving in opposite directions. Gyeongju's "Hwangridan-gil" cultural district has sparked a wave of new demand — and dramatically higher rates. The area's hotel-style lodging and hanok pool villas command premium pricing. Even in the off-season, bookings for ₩200,000+ properties grew year-over-year, driving clear upward momentum. That said, [trendy travel consumption](https://www.hankyung.com/article/202407027008h) can be fickle — so operators should avoid overheating pricing if they want sustained growth. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d80415de9a840245906_23_24_.jpg) Meanwhile, local Yeosu press ran headlines like "[Red Alert for Yeosu Tourism — Time to Find Solutions](http://www.nhanews.com/news/articleView.html?idxno=81419)." Visitor numbers and tourist spending are both down. Accordingly, ₩50,000–₩100,000 pensions gained 3.8pp share, while ₩100,000–₩150,000 properties dropped 5.5pp. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d8aefeebc994468932b_23_24_.jpg) In peak season, Gyeongju's ₩100,000–₩150,000 tier shows a clear dividing line. Properties above ₩150,000 gained share vs. last year; those below stayed flat or declined. Gyeongju's pricing is well-distributed across tiers, so operators need to benchmark carefully against similar properties in the area when setting peak rates. ![](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e1d94e056bf6ee3dc2424_23_24_.jpg) Yeosu's peak season still centers on ₩50,000–₩150,000 properties. But bookings for ₩250,000+ properties dropped sharply vs. last year, while demand for budget ₩50,000–₩100,000 pensions rose. ![Source: Korea Tourism Data Lab](https://zqcfqfqgiyckyhazcfrk.supabase.co/storage/v1/object/public/blog-images/webflow/6316f3f75130788ec2d762dd/669e11232a4196a9aac82b8b_.png) [Korea Tourism Data Lab data](https://datalab.visitkorea.or.kr/datalab/portal/loc/getAreaDataForm.do#) offers clues: Yeosu's top visitor segment is men in their 50s, while women in their 20s visit at a notably high rate. High-spending 50-somethings + trend-conscious 20-somethings = not a bad mix. But female visitors in their 20s dropped 6.5pp this year. **With Gen Z interest waning, Yeosu needs coordinated efforts — policy and industry — to win back younger travelers.** Want deeper insights into your region? Reach out below. [Get in touch](https://www.onda.me/apply-form?utm_source=onda&utm_medium=blog&utm_campaign=pensionpricetrends_contents)