Seoul SaeHwalYong Plaza 4 Years... Resident Companies Annual Sales 10 Billion KRW, Total Visitors 370,000

Seoul City Shares Upcycling Policy Know-How with Over 80 Domestic and International Organizations Including 17 Countries Such as the US and UK

[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 8th that Seoul Sae-yong Plaza, which opened in September 2017 to foster the upcycling industry, has achieved an annual sales revenue of 10 billion KRW and a cumulative visitor count of 370,000 within four years.

According to Seoul City, there are currently 35 companies residing in Seoul Sae-yong Plaza, and as of September this year, the annual sales revenue of these resident companies is approximately 10 billion KRW. Despite the prolonged economic downturn caused by COVID-19, sales have increased by more than 30% compared to 2018.

The resident companies at Seoul Sae-yong Plaza engage in various business activities such as producing and selling upcycled products that add design elements and value to waste, sorting and processing reusable items, repairing electronic devices, and providing citizen experience education. They are also gaining attention for eco-friendly and ethical production that helps save the planet.

Meanwhile, Seoul Sae-yong Plaza has been operating various experience, exhibition, and education programs targeting students, teachers, and the general public to raise awareness of upcycling and widely promote upcycling culture. Since its opening, it has been visited by 370,000 people and 41,000 people have participated in exploration and education programs as of September this year.

The upcycling enterprise development program at Seoul Sae-yong Plaza has attracted great interest both domestically and internationally. Since its opening, it has served as a hub introducing Seoul-style resource circulation policies, with visits for benchmarking from over 80 institutions including domestic local governments and companies, as well as 17 foreign countries such as the United States, the United Kingdom, Germany, Denmark, and the United Arab Emirates (UAE).

Meanwhile, to spread a consumption culture without packaging, Seoul City is running a pilot operation of ‘Zero Forest,’ a zero-waste experience space within Seoul Sae-yong Plaza, until the end of November. Jeong Mi-seon, Head of the Resource Circulation Division, said, "Recently, citizens have shown great interest in eco-friendly lifestyles such as upcycling and zero waste. Seoul City will increase support for upcycling companies to further revitalize the upcycling industry and continuously develop programs that more citizens can engage with, so that Seoul Sae-yong Plaza can develop further as Seoul’s representative resource circulation hub."

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