Yongsan-gu Yongmun Market Cultural Tourism Specialized Market Development

Ministry of SMEs and Startups Receives 4 Applications for 'Traditional Market Revitalization Support Project', All Selected... Secures 900 Million KRW for Traditional Market Revitalization... Invests 1 Billion KRW to Create Market Yard Platform, Conduct Product and Environment Consulting, and Foster Culture and Tourism Specialized Markets

Seongjanghyun, the Yongsan District Mayor who celebrated the 10th anniversary of his inauguration on July 1st

[Asia Economy Reporter Park Jong-il] Yongsan-gu (Mayor Seong Jang-hyun) Yongmun Traditional Market has been selected as a specialized market (cultural tourism type) development target in the Ministry of SMEs and Startups' '2021 Traditional Market and Shopping District Revitalization Support Project' contest.

The Traditional Market and Shopping District Revitalization Support Project supports merchants and merchant associations in traditional markets, shopping districts, and commercial revitalization zones, as well as local governments, by providing regional product exhibitions, fostering specialized markets, and improving aging facilities.

The district applied for four projects in the contest: ▲Fostering Yongmun Market as a specialized market ▲Supporting Yongmun Market management vouchers ▲Improving Yongmun Market parking environment ▲Supporting Sinheung Market management vouchers, all of which were successfully selected.

The secured national subsidy budget amounts to approximately 900 million KRW.

In particular, the district plans to develop Yongmun Market as a 'cultural tourism type' specialized market. The project theme is 'Yongsan's Future Market, Embracing Life with Youth.'

To this end, the district will focus on establishing specialized market infrastructure and building a sustainable organizational system over two years from 2021 to 2022.

Main projects include ▲Creating an international market (establishing a market yard platform, renovating modern architectural facades within the market and public design, organizing a youth merchant cultural planning group) ▲Creating a living market (product and environment consulting for each store, supporting local communities) ▲Creating a future market (installing a smart sharing center, installing CCTV to monitor foot traffic, smart consulting for each store).

The district will first secure shared spaces within the market to create a 'market yard platform' where youth, local residents, and foreign tourists can gather.

The platform is located around 1-1 Wonhyo-ro 3-ga, covering an area of about 1,350 m². The merchant association and youth merchant cultural planning group will regularly hold cultural events such as flea markets here.

Product and environment consulting for each store will also be conducted. This includes renewing product packaging or tidying up store exteriors or display stands. A customer safety line will be created. Improving store hygiene conditions will also help prevent infectious diseases.

A 'smart sharing center' will be installed in the central plaza of Yongmun Market. It will include an unmanned comprehensive information kiosk system for market and store promotion, resting areas, and CCTV to monitor foot traffic, establishing a future-oriented image. The big data on foot traffic will be used as marketing material for the market.

Additionally, the district will expand market visitors through developing Yongmun Market tourism tour products and specialty product sales platforms, operating online market and social network service (SNS) promotion teams, and training merchant experts.

Yongmun Market Location Map

Seong Jang-hyun, Mayor of Yongsan-gu, said, “Including the district budget, about 1 billion KRW will be invested in revitalizing Yongmun Market by the year after next,” adding, “We will nurture Yongmun Market into a leading local market befitting the global city of Yongsan.”

Yongmun Market is a representative traditional market of Yongsan. Since its formation in 1965, it has been with the residents for over half a century, with 145 merchant association members striving to revitalize the market. As of August, there are 156 stores, and the daily number of visitors is about 2,500.

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