Seoul City Relocates Korea's Only 'Yanggok Wholesale Market'... Transforming into an Eco-Friendly Specialized Market

Property exchange procedure completed for relocation to nearby Nonghyup-owned site... Opening in 2025 after design and construction
Introducing latest facilities such as anti-corruption 'cold storage' and large-capacity 'joint mooring yard' for strict quality control

[Asia Economy Reporter Lim Cheol-young] Since its opening in 1988, Yangjaedong’s “Yangkok Wholesale Market,” the center where 18% of Seoul’s mixed grains are traded and the nation’s only public grain wholesale market, will relocate to a nearby Nonghyup-owned site and transform into a “specialized wholesale market for mixed grains and eco-friendly grains” with modern facilities by 2025.

The relocated and newly constructed Yangkok Wholesale Market will introduce the latest facilities such as low-temperature storage, a shared docking yard, and a vertical logistics system in the storage, management, and distribution processes, and will systematize pesticide safety inspections to keep pace with the increasing trend of eco-friendly food consumption. Seoul City also plans to develop a joint brand suitable for a specialized market for “mixed grains and eco-friendly grains,” moving beyond individual transactions between producing farms and stores, to supply high-quality grains to consumers at reasonable prices.

On the 19th, Seoul City announced that it completed the property exchange procedure on the 15th to relocate to a nearby Nonghyup-owned site. The goal is to complete design and construction from January 2024 to December 2024, finish relocating existing stores by 2025, and then open the market. So far, Seoul City has been reviewing various plans to ensure smooth progress of the “Yangjae R&D Innovation District Development” project and to secure a relocation site for the modernization of the Yangkok Wholesale Market facilities. As a result, it was decided that the relocation site, being a transportation hub close to the Gyeongbu Expressway and Yangjae-daero, is suitable considering transportation convenience and the surrounding environment.

The “Yangkok Wholesale Market” will be newly constructed on a site of 8,426.9㎡. Facilities and operational methods will be improved so that citizens can purchase fresh and healthy high-quality grains at reasonable prices. Regarding facilities, the exterior design will be modernized and various latest systems will be introduced. A “low-temperature storage” facility, which can manage grains at a higher quality and prevent spoilage compared to the existing natural drying and storage methods, will be installed. A “shared docking yard” that can store large quantities of grains in optimal conditions in one place will also be newly established.

In terms of operation, standards and systems for agricultural product quality control and safety will be established to make the market more specialized, and a joint brand for mixed grains and eco-friendly grains will be developed to provide higher quality grains at reasonable prices.

In the mid to long term, Seoul City plans to attract agricultural-related exhibition halls, startup centers, and other facilities on the upper floors and basement levels to create synergy with the Yangkok Wholesale Market and increase site utilization. The lower floors of the wholesale market have mainly been used as business spaces, while the upper floors and basement levels have had low utilization.

Considering various visitors such as market visitors and distributors, the traffic flow will be systematically changed, with roads and sidewalks separated. On the site where the Yangkok Wholesale Market relocates from, the “Yangjae AI·R&D Campus” will be established, accelerating the development of the AI industry in the Yangjae area.

Hwang Bo-yeon, Director of Seoul City’s Economic Policy Office, said, “We will make every effort to ensure that high-quality grains are provided to citizens at reasonable prices through the newly relocated and established Yangkok Wholesale Market. We will also accelerate the development of the Yangjae AI Innovation District, which has faced difficulties due to delays in relocating the wholesale market.”

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