Gangnam, or Gangnam-gu, is one of the 25 local government districts which make up the city of Seoul, South Korea. It is located in the southeast of the city. Gangnam is by far the wealthiest neighborhood in all of South Korea, and as a result, is a symbol of both wealth and income inequality in the country.
In order to be considered rich, it is said that a person has to live in Gangnam, with Korea at times being called the Republic of Gangnam. The extreme wealth concentrated there has no equivalent elsewhere in the world. Its real estate is the most expensive in South Korea, and the value of its 15 square miles (39 km2) exceeds the entire value of the city of Busan, South Korea's second largest. Combined with the neighboring districts of Seocho and Songpa, they account for 10% of the value of all real estate in South Korea.
Psy's Gangnam Style (song) is a criticism of this district and a satire of conspicuous consumption in South Korea. "Gangnam Style" is a Korean language colloquialism that refers to a luxurious lifestyle associated with the Gangnam district, an affluent area of Seoul, where people are trendy, hip and exude a certain "swag".