Seoul has experienced a significant rise in housing prices due to a series of failed real estate policies. It’s become nearly impossible to afford a home with just a salary. Now, people are taking out loans to buy houses, aiming to sell them later for a profit.

Houses and buildings define the streets we live on, and the quality of our lives follows the character of those streets. The streets I see in Seoul are filled with a dullness born from greed. High-end apartments with incomprehensible names dominate the city, while older buildings, often less than 20-30 years old, are torn down and replaced. The new buildings are all the same, prioritizing spatial efficiency and real estate value, with little concern for the type of streets they create.

South Korea is facing its most severe challenges yet, with historically low birth rates and rising living costs. As a nation reliant on exports and economies of scale, the news constantly reminds us that we can't go on like this. Perhaps the real estate crisis is fueling a vicious cycle in broader societal problems.

Bogwang-dong is located in Itaewon. Since the Korean War, the area has developed into a neighborhood of small flats scattered along the slopes, resulting in a lack of regulations. This gives rise to numerous walls and shortcuts that have emerged out of necessity, with each building showcasing its own unique character.

As of 2024, the Hannam 3 District, which includes Bogwang-dong, is in the final stages of the relocation process for existing residents due to redevelopment. Following this, luxury apartment complexes are expected to be constructed. The remaining districts 2, 4, and 5 are also anticipated to undergo the same process soon.

Luxury apartments are being constructed along the Han River. The skyline and the character of the streets do not seem to be their concern.

Although it has now relocated, this town was once home to a U.S. military base and, due to the nearby mosque, attracted a significant number of foreign migrants. For them the outskirts of Seoul is now more affordable option. Currently, they dispersed across various locations.

Most of the homes were vacated, and it was hard to believe that such a ghost town existed in the heart of densely populated Seoul. The streets were littered with trash, and weeds had grown taller than a person. Despite the emptiness, at the vacant houses, I can feel the warmth of those who once lived there, with a few remaining who had yet to move out.

Since the Korean War, this town has been home to refugees to foreigners seeking to settle in an unfamiliar Korea. Soon, it will fade into history. Given its impoverished background and the presence of many vulnerable individuals, will anyone remember this street? I will. In the fall of 2024, Bogwang-dong was on the brink of redevelopment and then there were none.

• Leica Barnack iiig

• Summitar 50mm f/2

• Lomography Berlin Kino 400