Gyeonggi-do Supports 'Alley Commercial Area Specialization'
Promotion of Three Projects Worth 3.7 Billion Won This Year
[Asia Economy Reporter Ra Young-cheol] Gyeonggi Province will support the revitalization of local commercial districts within the province, including old downtown commercial areas facing population decline, aging shopping streets, and clean valley restoration zones.
According to the province on the 8th, this year's support areas include three sectors: ▲Hope Commercial District Project ▲Clean Valley Commercial District Revitalization ▲Aging Shopping Street Revitalization, with a total project budget of 3.7 billion KRW.
The 'Hope Commercial District Project' aims to strengthen the self-sustainability of local commercial districts struggling due to the entry of large retail companies or redevelopment.
This year, one site will be selected to receive a total project budget of 1 billion KRW for crisis commercial district diagnosis and prescription programs such as consulting and community formation, joint marketing, and improvement of shared facilities.
The 'Clean Valley Commercial District Revitalization' supports various specialized development programs in living SOC project sites within clean valley restoration areas to lead regional economic revitalization.
This year, two project sites will be selected and provided with project funds of 1 billion KRW and 700 million KRW respectively, based on ranking, for convenience facility construction, store environment improvement, introduction of themed programs, and reservation programs.
The 'Aging Shopping Street Revitalization' targets shopping streets that have been established for over 20 years, where merchants, building owners, and experts form a local win-win council to induce merchant organization and promote competitiveness enhancement projects.
This year, one site will be selected to receive a total project budget of 1 billion KRW to support environmental improvement, storytelling, joint marketing, and promotional education.
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The province plans to recruit participating commercial districts through each city and county by the 25th, and after an evaluation process, select the final support targets by April.
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