Gwangju Dong-gu Selected for 12 Billion KRW 'Commercial District Renaissance Project'

[Asia Economy Honam Reporting Headquarters Reporter Cho Hyung-joo] Dong-gu, Gwangju (Mayor Im Taek) announced on the 31st that it has been finally selected for the 5th Commercial District Renaissance Project, a public contest project by the Ministry of SMEs and Startups.

The Ministry of SMEs and Startups selected five final project sites, including Dong-gu, Gwangju, the only area selected in the Gwangju-Jeonnam region, as well as Jung-gu, Incheon; Andong, Gyeongbuk; Gyeongju, Gyeongbuk; and Miryang, Gyeongnam.

The ‘Commercial District Renaissance Project’ designates deteriorated old downtown areas as ‘commercial district revitalization zones’ and supports environmental improvements and commercial district revitalization projects for up to 12 billion KRW over five years to restore the self-sustaining competitiveness of the commercial districts.

Following the project selection, Dong-gu plans to accelerate the revitalization of the downtown commercial district by integrating Chungjang-ro and Geumnam (Chunggeum) underground shopping malls into a three-dimensional shopping area connecting underground and aboveground.

To this end, the district will establish a five-year plan from 2022 to 2026 to foster the ‘Gwangju Chungjang Commercial Culture District’ and implement various projects.

The main goal is to reestablish the commercial district as Korea’s top ACE (Art, Culture, Eco) commercial district under the theme of ‘Happy Chungjang where culture and art breathe,’ focusing on three themes: a commercial district with Art, a commercial district with Culture, and a sustainable (Eco) commercial district.

Specifically, the plan includes ▲creating the ‘Chungjang Art Creation Center’ to experience the unique art of Chungjang-ro, establishing a ‘Street of Movies’ and ‘Street of Artisans’ ▲promoting alley tours and the Omae Domae Ant Market through the ‘Chungjang Five Senses Satisfaction’ project to feel the rich and vibrant culture unique to Chungjang-ro ▲and developing smart digital commercial districts and an underground art garden through the ‘Dream Green Chungjang’ project for future-oriented infrastructure improvements.

In particular, the district plans to nurture star stores through an artisan university where Chungjang-ro artisans collaborate with young local creators, and strengthen merchant capabilities through the Soho Mentoring School, thereby building a unique commercial district brand for Dong-gu.

Additionally, by systematically converging tangible and intangible local resources unique to the Chungjang-ro commercial district with the largest-ever linked projects, the strategy is to create a one-stop commercial culture district where entertainment, sightseeing, and dining are all available in one place to attract tourists.

Since last year, Dong-gu has been preparing for the Commercial District Renaissance Project by conducting commercial district status surveys and establishing basic plans through the Chungjang Commercial District Innovation University, targeting the declining Chungjang-ro shopping street and Geumnam (Chunggeum) underground shopping area in the old downtown commercial district.

Above all, Mayor Im Taek of Dong-gu directly led the planning and presentation for the contest selection, requested active cooperation from the merchants’ association and related organizations, and made an all-out effort, resulting in the great achievement of being selected as the final project site.

Chungjang-ro, the root and pride of the Honam commercial district, is expected to enhance the self-sustainability of the commercial district by linking with downtown historical and cultural resources such as the National Asia Culture Center, Art Street, Dongmyeong-dong Cafe Street, and Daein Art Market through this project, while securing Dong-gu’s uniquely specialized commercial district competitiveness.

Mayor Im Taek of Dong-gu said, “The Commercial District Renaissance Project is an important project for the revival of the old downtown commercial district, which has been depressed due to COVID-19 and other factors,” and added, “Through this project, the district, merchants’ association, and private experts will cooperate to do their best to revitalize the entire local economy of Dong-gu and further promote the vitality of Gwangju’s economy.”

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