Seong Jang-hyun, Yongsan District Mayor, Takes Initiative to Create 'Star Shop' for Itaewon Baeknyeon Gage

Selection of 10 Participants for Starshop Project (1st Term); Agreement Signed at District Office Conference Room on 4th; Monthly Rent Support of 1 Million KRW for 1 Year from Startup Date... Startup Fund Loans Also Linked... Recruitment for 2nd Term Participants in Early December

Seong Jang-hyun, Mayor of Yongsan District (center), and project participants posed together at the Itaewon Star Shop Project agreement ceremony held on the 4th in the main conference room of Yongsan District Office.

Seong Jang-hyun, Yongsan District Mayor (second from right), encouraged the project participants at the Itaewon Star Shop Project agreement ceremony held on the 4th in the Yongsan District Office main conference room.

[Asia Economy Reporter Jongil Park] “We have truly prepared for a long time to revive the fallen Itaewon. The district office will work hard to support you. We ask everyone to do their best as well.”

Yongsan-gu (District Mayor Seong Chang-hyun) is set to fully launch the Star #Shop project starting this month in line with the With-Corona (gradual return to daily life) policy.

The district recently selected 10 participants as the first cohort for the Star #Shop project.

The participants are Lee Gang-mok (50), Lee Sang-du (28), Jo Kyung-joo (42), Jo Jin-hee (30), Park Hyun-jung (34), Geum Hyun-woo (37), Kim Gyun-ha (38), Choi Won-sik (35), Moon Jeong-sook (65), and Seo Il-young (33), representing a diverse age range from their 20s to 60s.

The businesses include six general restaurants, two service businesses, and two retail shops. The general restaurants sell craft beer, seaweed, Korean beef (Hanwoo), seafood, tapas (Spanish cuisine), and wine, which is expected to further diversify the “flavors” of Itaewon. The service businesses focus on four-cut photo booths and a men-only barbershop targeting the MZ generation’s tastes. The retail shops sell eco-friendly household goods, vegan beverages, and ice cream both online and offline.

Except for Lee Sang-du, who already opened the first store (Hongdae Four-Cut Photo Booth Itaewon branch) in celebration of Halloween, all other stores are scheduled to open by early next year.

Lee Sang-du, the founder of the first store, said, “Although Itaewon is facing many difficulties, it will surely regain vitality with With-Corona. Since the district office is actively supporting us, I will work even harder to contribute to the reconstruction of Itaewon.”

The Star #Shop project is part of the district’s measures to revitalize the commercial area.

In April, the district held the “Itaewon Commercial Area Revival Resolution Rally” at the outdoor stage next to the Hamilton Hotel, promising local merchants to implement measures such as operating the Itaewon Commercial Area Revitalization Task Force, supporting small business owners to overcome disaster crises, supporting Yongsan-style good landlords, utilizing vacant spaces through the Star #Shop project, and the Our Neighborhood Store Artterior project.

The Star #Shop project began in August. After revising related ordinances, the district set recruitment policies and received applications from 23 small business owners. Then, through first-round (document) and second-round (interview) evaluations, they selected support recipients based on entrepreneurial capabilities, feasibility of startup realization, and efforts in startup preparation.

Additional points were given to former Itaewon business owners who had closed their shops.

On the 4th, the district office held an agreement ceremony with the project participants in the main conference room and provided various guidelines. Subsequently, the district will support monthly rent of 1 million KRW for one year from the startup date. Also, in cooperation with the Seoul Credit Guarantee Foundation, “pre-startup consulting” education will be provided, and startup funds of up to 50 million KRW will be lent.

Seong Chang-hyun, Mayor of Yongsan-gu, said, “We are promoting the Star #Shop project to revitalize the local commercial area, which has been stagnant due to COVID-19. We will discover capable and attractive small business owners and reopen the heyday of Itaewon once again.”

He added, “We will recruit the second cohort of the Star #Shop project in early December. We ask for the interest and participation of prospective entrepreneurs preparing for the post-COVID era.”

The Itaewon Tourism Special Zone is one of six tourism special zones in Seoul. Covering an area of 383,292㎡ around Itaewon and Hannam-dong, it is densely packed with shopping malls, restaurants, and tourist hotels catering to foreign tourists. After the Korean War, souvenir sales targeted U.S. troops stationed at the U.S. 8th Army base. The commercial area expanded in the early 1970s when the 121st Evacuation Hospital moved into the U.S. 8th Army base, and in 1997, it was designated as Seoul’s first tourism special zone.

Since last year, the commercial area has faced difficulties due to so-called “club-related spread,” but it has been showing signs of recovery since the second half of this year. The district is accelerating efforts to revitalize the commercial area, such as opening the underground parking lot (levels B4?B5, 374 spaces) of the district office building 24 hours a day.

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