Promotion of Local Economic Revitalization Project in Garak-dong, Songpa-gu

Seoul City Selected for 'Saenghwal Sangwon Development Project'... 3 Billion Won Invested Over 3 Years

Value bench installed in stores as part of the 'Community Commercial Area-Based Project' piloted last November

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Park Seongsu) announced on the 23rd that the Garak-dong area has been finally selected for the ‘Seoul City Living Commercial Area Development Project.’

Accordingly, 3 billion KRW will be invested over three years until 2022 to carry out various projects aimed at revitalizing the stagnant local economy.

The district office stated that the local economy is facing increasing difficulties due to the rise in store closures caused by the novel coronavirus disease 2019 (COVID-19).

In fact, the number of closed stores increased by 12.6%, from 2,525 in January to March 2019 to 2,824 during the same period in 2020.

To address this, the district has focused on revitalizing the ‘living commercial area.’ A ‘living commercial area’ refers to a commercial district where residents can purchase or use daily necessities within about a 10-minute walk.

Prior to this selection, Garak-dong was chosen last November for the ‘Living Commercial Area Pilot Project’ conducted by Seoul City. After successfully completing related projects such as fostering hand-made stores directly created by shop owners over six months, it was selected as the final site for the ‘Living Commercial Area Development Project’ on the 20th.

Among the 25 autonomous districts of Seoul, only five, including Songpa-gu, were selected.

Going forward, the district plans to gather opinions from various economic actors within the living commercial area, including residents, small business owners, social enterprises, and village organizations, to implement facility construction and programs.

Representative projects include ▲expanding ‘Community Stores’ that install resident communication spaces such as toolboxes, book boxes, and benches ▲‘Together Stores’ that solve inconveniences in neighborhood life ▲‘Instant Stores,’ contactless packaging specialty stores reflecting consumer trends ▲‘Fresh Stores’ that use only self-grown ingredients.

Additionally, through open tables involving many residents, the district will conduct major project consultations and develop projects based on mutual cooperation.

Furthermore, to help small business owners overcome management difficulties caused by COVID-19, the district has implemented ▲rent reduction campaigns ▲third issuance of Songpa Love Gift Certificates (20 billion KRW) ▲nation’s first Small Business Hope Planner operation ▲contactless free grocery delivery service ▲free disinfection support for small business owners ▲establishment of consultation desks for small business closure support.

Park Seongsu, Mayor of Songpa-gu, said, “This project is significant because various economic actors in the local economy, including residents, small business owners, and various organizations, are working together.” He added, “We will strive to communicate more closely and revitalize the Garak-dong commercial area to breathe new life into the Songpa-gu local economy, which has been stagnated due to COVID-19.”

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