Will Gwanak-gu Byeolbit Sinsari Commercial Area Revitalize?

Gwanak-gu, Danggeun Market, and Seoul Credit Guarantee Foundation Sign Nation's First Three-Party Agreement Among Local Governments to Revitalize Local Economy... Securing Promotion and Marketing Channels Linked to Online Communities, Enhancing Effectiveness of Commercial District Renaissance Project

Starlight Sinsari Commercial District Renaissance Project Bird's-Eye View

[Asia Economy Reporter Jongil Park] Gwanak-gu (Mayor Park Junhee) announced on the 10th that it signed a tripartite agreement with Seoul Credit Guarantee Foundation (Chairman Han Jonggwan), the entrusted agency for the Commercial District Renaissance Project, and Danggeun Market (Co-CEOs Kim Yonghyun and Kim Jaehyun) to revitalize the local commercial district.

Through this agreement, the district can utilize Danggeun Market as an online communication hub for the overall local commercial district revitalization projects, including ▲improving the convenience of local residents’ daily lives ▲discovering new on-tact (online contact) commercial district revitalization models ▲hosting online events ▲strengthening the capabilities of local merchants.

Danggeun Market (Dangsin Geuncheo-ui Danggeun Market, meaning "Carrot Market Near You") is the largest local community service in Korea used by 10 million people. To help local merchants struggling due to COVID-19, it confirmed the possibility of mutual cooperation with the district and signed an agreement with Gwanak-gu, becoming the first local government to do so.

Since the launch of the 7th local government administration, Mayor Park Junhee has prioritized revitalizing the local economy and is focusing administrative capabilities to respond to the COVID-19 situation and the post-COVID era.

He specifically stated that this agreement was promoted to successfully carry out the ‘Starlight Sinsari Commercial District Renaissance’ project.

Last December, the district was selected in the Ministry of SMEs and Startups’ ‘Commercial District Renaissance Project’ competition and is currently promoting the ‘Starlight Sinsari Commercial District Renaissance’ project worth a total of 8 billion KRW over five years in the area around Sillim Station (61,906㎡), including Sinwon-dong Market, Seowon-dong Shopping Street, Gwanak General Market, and Dorimcheon Stream.

The ‘Commercial District Renaissance Project’ is a project that revitalizes deteriorating and declining commercial districts by improving facilities and environments and injecting vitality through various programs. For the first time in Seoul, the ‘Starlight Sinsari Commercial District’ around Gwanak-gu Sillim Station was selected.

The district plans to enhance user convenience by installing representative symbols, replacing deteriorated facilities, and expanding customer convenience facilities in the ‘Starlight Sinsari’ area. It will also theme the Seowon pedestrian bridge as the ‘Starlight Bridge’ and transform it into a popular local landmark.

Additionally, the district plans to invigorate the commercial district with various events such as water play and sledding festivals utilizing Dorimcheon Stream and sundae (Korean blood sausage) making experience programs.

With this agreement with Danggeun Market, the scope of promotion and events for the ‘Starlight Sinsari Commercial District’ can be expanded online, which is expected to gain further momentum. Specific event details and schedules will be finalized later and announced through the Gwanak-gu Office website and the Danggeun Market app in October.

Mayor Park Junhee said, “I hope that proactive administration will help many merchants struggling due to COVID-19 even a little,” and added, “We will continue to think deeply and do our best to strengthen the self-sustainability of the local commercial district and ensure sustainable growth.”

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