Gangnam…is the home of some of South Korea’s biggest brands, as well as $84 billion of its wealth, as of 2010. That’s seven percent of the entire country’s GDP in an area of just 15 square miles. A place of the most conspicuous consumption, you might call it the embodiment of South Korea’s one percent. “The neighborhood in Gangnam is not just a nice town or nice neighborhood. The kids that he’s talking about are not Silicon Valley self-made millionaires. They’re overwhelmingly trust-fund babies and princelings.”
Read more about the satirical background of “Gangnam Style” in The Atlantic.