Seoul's 'Hot Place' Haebangchon Sinheung Market, Urban Regeneration to be Completed in the Second Half of the Year

Residential Regeneration Completed in Haebangchon Area... Sinheung Market Environment Improved
"70 Years of History in the First Village Below Namsan... Over 6 Years of Renovation Project to Be Completed Within the Year"

Haebangchon Panorama

[Asia Economy Reporter Kim Hyemin] The urban regeneration project encompassing the Haebangchon area in Yongsan-gu, Seoul, will be completed within this year. It has been six years since the regeneration project began in 2015, focusing on residential areas and Sinheung Market.

On the 29th, Seoul City announced that it will start the environmental improvement project for Sinheung Market, the core and final stage of Haebangchon urban regeneration, this month and complete it in the second half of this year. Sinheung Market, located at the highest point of Haebangchon, is famous as a filming location for dramas such as "When the Camellia Blooms," "Itaewon Class," and "Alley Restaurant."

In recent years, various workshops and cafes have gathered, turning Sinheung Market into a popular spot. With the goal of revitalizing it as the center of the local commercial district, the city launched a design competition for an arcade in 2018. Accordingly, by the second half of this year, the old slate roof that made the market dull will be removed, and an arched roof will be installed. The old public restroom and roads will also be cleaned up to improve the aesthetics.

Some building owners created a win-win case by reducing rent by about 20% for a certain period during construction, considering the business damage to tenants. Although construction was originally scheduled to start in December 2019, requests to change the location of arcade pillars arose during the process, and the city emphasized communication and consultation by gathering opinions from residents and merchants over about eight months.

Haebangchon, the first village under Namsan, was formed as overseas Koreans returned after liberation and displaced persons gathered after the Korean War. More than 65% of the buildings are houses over 20 years old, making it a representative aging low-rise residential area in Seoul. In December 2015, the city designated this area as an urban regeneration activation zone and began full-scale regeneration projects.

Over the next four years, a total of 127 houses were remodeled to improve the residential environment. Maintenance focused mainly on the severely deteriorated sewage pipes, and the city refurbished neglected pedestrian paths and installed security lights and CCTVs in alleys. About 13,000 meters of tangled communication lines overhead were also maintained.

The city expects that once the final stage of Haebangchon urban regeneration, the "Sinheung Market Environmental Improvement Project," is completed, it will provide an opportunity to revitalize the area. Ryu Hun, Director of Urban Regeneration, said, "We plan to improve the aging market facilities and dark scenery of Sinheung Market to make it an old but comfortable local landmark," adding, "Through this renovation, we hope Haebangchon and Sinheung Market will regain new vitality as economic and cultural hubs."

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