Gyeonggi-do Promotes 'Differentiation Projects' at 9 Traditional Markets

[Asia Economy (Uijeongbu) = Reporter Lee Young-gyu] Gyeonggi Province will nurture nine traditional markets this year with a customized differentiation strategy.

On the 21st, Gyeonggi Province announced that it had selected nine locations for the 'Gyeonggi Province-style Traditional Market Specialization Project,' including Paju Geumchon Tongil Market and Suwon Nammun Market.

The Gyeonggi Province-style Traditional Market Specialization Project is a key initiative by Gyeonggi Province to enhance the self-sustainability of self-employed business owners and revitalize the declining old downtown commercial districts. The project is divided into three areas: Gyeonggi Province-style Commercial District Promotion Zones, Win-Win Development-type Gyeonggi Shared Market, and Development of Excellent Gyeonggi Markets.

The Gyeonggi Province-style Commercial District Promotion Zone designates traditional markets and surrounding commercial districts as promotion zones and revitalizes them through various support measures. This year, the project will be carried out in two locations: Dongducheon Saengyeon-dong downtown commercial district and Paju Geumchon Tongil Market.

Up to 4 billion KRW will be supported per location over four years.

The Gyeonggi Shared Market is a project that creates spaces where various local entities can participate as sellers in places linked to traditional markets, alleyway commercial districts, and five-day markets, aiming to revitalize commercial districts.

The target areas are six locations: Suwon Nammun Market, Bukmun Market, Buk Suwon Market, Hwaseo Market, Ansan Hanyang University Front Shopping Street, and Gapyeong Jatgoeul Market. Each location will receive up to 200 million KRW in support.

The Development of Excellent Gyeonggi Markets aims to discover and connect local specialized elements such as tourist courses to create representative brand markets centered on the region, such as 'Hallyu Hub-type Specialized Markets.'

For this year, 1 billion KRW will be invested in Yangpyeong Yongmun Market, selected as a project site, to carry out various support projects including content development, environmental improvement, marketing, and promotion.

Jo Jang-seok, head of the Small Business Division of the province, said, "Traditional markets and alleyway commercial districts are the lifeblood of our economy," adding, "We will do our best to help alleyway commercial districts develop self-sustainability in line with the changing environment."

The province will additionally select one Gyeonggi-style Innovative Market and four Gyeonggi Shared Markets through the second project contest next month.

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