'Haebangchon Sinheung Market' Urban Regeneration Concludes in Second Half... A Landmark to Lead the Local Economy

Completion of over 6 years of urban regeneration project highlighting Haebangchon, the first village under Namsan with 70 years of history, within this year
Renovation of old walkways and stairs, installation of CCTV, remodeling of 127 houses

[Asia Economy Reporter Lim Cheol-young] Seoul city announced on the 29th that the urban regeneration project encompassing the ‘Sinheung Market’ and its surrounding area, which holds the long historical traces and value of Haebangchon but had been in decline since the 1990s, will be completed in the second half of this year, six years after its start.

Seoul selected Haebangchon as an ‘Urban Regeneration Activation Area’ in December 2015 and began the regeneration project in earnest. In recent years, various workshops and cafes have gathered, and Sinheung Market, which has appeared as a filming location for popular dramas and variety shows, has emerged as a hot place. The city plans to transform it into a landmark and revive it as the center of the local commercial district.

By the second half of this year, Seoul plans to remove the old slate roofs that made the market dark and gloomy and install an innovative arcade (arched roof) with bright lighting even at night. The old public restrooms and market roads will be cleaned and improved with landscape lighting to enhance aesthetics. Drainage and fire-fighting facilities will be maintained, and new CCTVs will be installed to strengthen safety. Event and rest spaces will also be created.

The residential area around Haebangchon, which includes Sinheung Market, is undergoing many changes through urban regeneration. While preserving Haebangchon’s unique characteristics with over 70 years of history, the deteriorated low-rise residential areas and alley landscapes have been completely transformed. The environment of the deteriorated pedestrian paths (stairs, slopes), which were difficult to walk on, has been newly improved and maintained, and security lights and CCTVs have been installed in narrow and dark alleys to prevent crime. With support from Seoul’s home repair programs such as Seoul Beautiful House, a total of 127 houses have been remodeled over four years to improve the residential environment.

Seoul will complete the ‘Sinheung Market Environment Improvement Project,’ the core and final stage of Haebangchon urban regeneration, in the second half of this year. The remaining project involves physically improving the old and dark environment of Sinheung Market to create a key space that will lead Haebangchon’s regeneration and regional economic revitalization.

Seoul expects that once the ‘Sinheung Market Environment Improvement Project,’ the core of Haebangchon urban regeneration, is completed, it will greatly alleviate the daily inconveniences of residents and merchants, and Sinheung Market will be reborn as an economic and cultural hub of Haebangchon, providing a new impetus to the region.

Park Il-seong, chairman of the Sinheung Market Merchants’ Operating Committee, said, “Until the end of 2014, Sinheung Market was considered a high-crime area in the village and was a deserted place where outsiders hesitated to visit. However, with the urban regeneration project, many young people have come to the market, and many visitors come from outside to see it, which the local residents really like. We expect that once the project is completed, Haebangchon and Sinheung Market will become even more vibrant.”

Ryu Hoon, director of Seoul City’s Urban Regeneration Office, said, “Haebangchon has started to regain its position as the center of residents’ lives, with trendy shops and galleries opening and becoming a social media hot place for the younger generation. We hope that through the final stage of urban regeneration, the Sinheung Market Environment Improvement Project, Haebangchon and Sinheung Market will regain new vitality as economic and cultural hubs.”

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