Gangnam, Seocho and Songpa are three "gu" (local government wards) in Seoul, South Korea, individually known as Gangnam-gu, Seocho-gu and Songpa-gu and often collectively referred to as "Gangnam". These districts are known for their expensive real estate. Media reports frequently refer to this area when they cover stories about real estate. The area has been developed very quickly in an organized way since 1970s by the government and is now home to many companies and a target of real estate investors. Residents of this area are regarded as very affluent, by Koreans.
