Seoul City Councilor Park Sang-gu Welcomes Hwagog Jungang Alley Market's Final Selection as Urban Regeneration Pilot Project Site

Seoul City Confirms Over 10 Billion Won Support for Traditional Markets Including Hwagok-dong Area in Gangseo-gu

[Asia Economy Reporter Park Jong-il] Park Sang-gu, a member of the Seoul Metropolitan Council's Urban Planning and Management Committee representing Hwagok 1, 2, and 8-dong in Gangseo-gu, Seoul (Democratic Party, Gangseo 1), expressed his welcome, saying, "With Hwagok Jungang Alley Market located in Hwagok 1-dong being finally selected as a target site for Seoul City's ‘Traditional Market-Linked Urban Regeneration Pilot Project,’ the revitalization of traditional markets and residential area regeneration in this region is expected to gain more momentum. Despite the recent difficult economic conditions, this will greatly help not only the local commercial district but also the regional economy."

The traditional market-linked urban regeneration project is a type of urban regeneration project newly introduced by Seoul City, the first of its kind nationwide, aiming to simultaneously pursue ‘market revitalization’ and ‘residential area regeneration’ by integrating declining traditional markets within residential areas and nearby housing.

In May last year, Seoul City selected six candidate areas, including the Hwagok-dong area in Gangseo-gu (160,000㎡), through a public contest among autonomous districts. Based on the results of a six-month pilot project, three pilot project sites were finally selected this year, with plans to support each with approximately 10 billion KRW in project funds.

Councilor Park Sang-gu stated, "The Hwagok Jungang Alley Market area selected as the target site is a densely populated residential area with narrow roads, where resolving parking issues and restoring the declining village functions are urgent." He added, "With the recent influx of young couples, the proportion of households with young children has increased, and since the area serves as a school route for children and a commuting path for workers, urban regeneration should be promptly promoted to improve the residential environment and revitalize the market, creating synergy effects for the project."

He also said, "My election pledge was to recommend Hwagok-dong as a candidate site for urban regeneration projects, and I am pleased to have achieved the great success of having it finally selected as a target site following last year's pilot project candidate selection." He added, "I will continue to communicate with merchants and local residents to ensure the successful implementation of the urban regeneration project."

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