Seongdong-gu Yongdap-dong Selected as Pilot Site for 'Traditional Market-Linked Urban Regeneration' Project

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[Asia Economy Reporter Park Jong-il] Seongdong-gu (Mayor Jung Won-oh) announced that Yongdap-dong has been finally selected as the pilot site for the nation’s first “Traditional Market-Linked Urban Regeneration Project,” a new form of urban regeneration connecting traditional markets and low-rise residential areas.

The “Traditional Market-Linked Urban Regeneration Project” is a new urban regeneration model that simultaneously seeks to revitalize commercial districts and improve the surrounding residential environment to prevent traditional markets, which were once local hubs, from declining due to competition from large supermarkets.

Yongdap-dong, which has been aging and left out of nearby redevelopment and regeneration projects, was selected last May as a candidate site covering 108,000㎡ around Yongdap Central Street 69, centered on Yongdap Shopping Market.

For about six months after the selection, the district promoted foundational projects to explore ways for mutual growth between the traditional market and the surrounding residential areas and to encourage participation from residents and merchants, centered on “Yongdap Narae,” a resident hub space. Small-scale regeneration projects such as resident group operations, urban regeneration schools, agenda discovery workshops, and study tours to advanced urban regeneration sites like Cheongju Pine Road were conducted to build consensus by jointly addressing and solving local issues.

Particularly, focus was placed on linking various local resources. Through a memorandum of understanding (MOU) with Hanyang Women’s University, small-scale regeneration projects unique to Yongdap-dong were carried out with residents and merchants, including solar-powered mailboxes, Hope Tree creation, and academies. Collaboration with the Seoul Metropolitan Homeless Shelter “Vision Training Center” also provided customized product display stands and safety customer passageway campaigns for the aging Yongdap Shopping Market facilities.

Additionally, at the opening ceremony of “Yongdap Narae” in August last year, a “win-win agreement” between landlords and tenants was signed to prevent gentrification, thoroughly preparing in advance to minimize displacement caused by local revitalization.

With Yongdap-dong’s final selection as an urban regeneration site, the district is currently promoting all types of urban regeneration projects across seven areas: Seongsu (Neighborhood Regeneration General Type), Majang (Central Commercial Area Type), Yongdap (Janganpyeong Central Commercial Area Type), Yongdap (Alley Regeneration), Songjeong (Neighborhood Regeneration General Type), and Sageun (Neighborhood Regeneration Residential Support Type).

A district official stated, “Since the ‘Traditional Market-Linked Urban Regeneration Project’ is the first of its kind attempted by Seoul City, we plan to actively promote the project with residents and merchants to establish a sustainable and self-sustaining urban regeneration model, making Yongdap-dong a model first case.”

Jung Won-oh, Mayor of Seongdong-gu, said, “I am very pleased that Yongdap-dong, which can be called the culmination of Seongdong-gu’s urban regeneration projects, has been finally selected as the pilot site for the traditional market-linked project thanks to the active participation and passion of residents and merchants. As we are promoting the largest number of areas and all types of urban regeneration projects nationwide, we will continue to strive to make Seongdong-gu a leading and exemplary district in urban regeneration.”

This content was produced with the assistance of AI translation services.