Dongdaemun-gu Launches Urban Regeneration Revitalization with 20 Billion Won Investment in Cheongnyangni General Market Area

Creating the Nation's Largest Market Gathering Generations Including Merchants and Customers... Utilizing Urban Hanok for a Complex Cultural Space, Establishing Shared Parking Lots, and More

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) has officially launched the urban regeneration revitalization project around Cheongnyangni General Market, with a total project cost of 20 billion KRW.

Following the announcement of the urban regeneration revitalization plan for the Cheongnyangni General Market area by the Seoul Metropolitan Government in January this year, the district is set to actively implement 12 sub-projects under the motto "Cheongnyangni Moyeo Market, the nation's largest commercial and cultural place where generations gather."

Including Seoul Yakryeongsi, nine traditional markets around Cheongnyangni General Market were designated as Seoul-type urban regeneration revitalization areas in August 2017. Since then, the district has established plans and initiated four projects: forming and operating a merchants' council and implementing urban regeneration boom-up projects in 2018, and operating the Urban Regeneration Field Support Center in 2019.

This year, to achieve three goals?"merchants gather," "new customers gather," and "regular customers gather"?the district is accelerating the progress of 12 projects.

To create a market where merchants gather, a merchant-centered market regeneration foundation will be established. The Urban Regeneration Field Support Center will be operated to discover new businesses based on specialized resources, and a support system will be developed to form a win-win council (including merchants' associations, street vendors, residents, etc.) and governance. A startup support platform will be created as a next-generation merchant startup support space, and product development education and promotion will also be supported.

To attract new customers, a market where culture and fun coexist will be created. A complex cultural space utilizing urban hanok (traditional Korean houses) will be established, equipped with exhibition and experience facilities, and a unique themed street will be created for each market within the target area. Store environment improvement projects will also be carried out simultaneously to adapt to the trends of the times.

Finally, to gather regular customers, an all-weather market that is not affected by weather and a convenient market that considers customers will be created by installing arcades and supporting delivery service operations. A shared parking system will be established to enhance visitor convenience.

Yoo Deok-yeol, Mayor of Dongdaemun-gu, stated, "Compared to marts or department stores, traditional markets lack convenience, and the number of visitors to traditional markets continues to decline. Visitors to Cheongnyangni General Market, the nation's largest market located in our district, have also experienced various inconveniences. Through this urban regeneration revitalization project, we will transform and develop the Cheongnyangni General Market area to attract more visitors." He added, "We will continue to improve the convenience of traditional markets in the area, including Cheongnyangni General Market, and maximize their potential to revitalize the local economy."

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