Name of Shop: Dongdaemun
Dong means East, Dae means big, Mun/Moon means gate--so you've got a Great East Gate. Dongdaynum has department-type stores (Hello apm and Galleria are big ones) that are more like indoor bazaars. Each of the 9-10 floors are made up of about 80 sellers of basically whatever you like (mostly clothes). There are other buildings housing home furnishings and other specialty shops (nice thing, they are all concentrated in one place, making shopping easier).
Outside there are many others hawking accessories, socks, toiletries (cheapest razors in Seoul, 1,000 won for 10...yes, less than US$0.10 each!), toys and food.
What To Buy: Everything is here.
What To Pay: Bargain everywhere. Never pay full price, always 10%-20% should come off. Never take your wallet out until you have the price firm. Never get too excited about an item. Always show flaws or make up some option or color you would prefer (one that they cannot give, thus should give you a discount for not having it). Always buy 2 or more items...should get a 20% discount at least for that. If you get 30%-35% off consider yourself a local.
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Theme: Discount Store
Address: Dongdaemoon Staduim Station (Lines 2,5,4) Exit #14
Directions: Just get out at #14 (the busiest exit) and continue walking down the street. Hello apm and Galleria will appear on your left in a bit. Also check out the ji-ha-ba-do (street underpass/underground arcade) for more deals.