A statue dedicated to South Korean singer Psy's global music video hit "Gangnam Style" is to be erected in the eponymous, upscale Seoul district made famous by the song.

Gangnam district council said Friday that the statue -- modelled after Psy's signature horse-riding dance move -- would be unveiled next month outside the COEX shopping and exhibition centre, where the first part of the video was shot.

The metal sculpture will consist of two giant fists overlapped at the wrist in the style of the dance from the 2012 video that was imitated across the world.

"Thanks to the music video, Gangnam became known throughout the world. We hope this will become a landmark for our district", said Gangnam tourism director Park Hee-Soo.

"Tourists can take pictures under the statue and the song will play automatically when you stand there," Park told AFP.

"Gangnam Style" remains the most-watched video of all time on YouTube with more than 2.4 billion views.

But Psy's next two singles -- "Gentleman" and "Hangover" -- received a relatively lukewarm response from fans.

The 37-year-old is set to release his first album for more than three years next month.