Disappearing 'Pping Market'... "Push-Out Sales and Clearance Deals Are a Thing of the Past, Now No One Comes Looking"

'Pping Market', the Final Destination of 'Mil-eonaegi'
Disappearing Gradually with Changes in Distribution Structure
Alleys Filled with Shops Transform into Residential Areas
Neighborhood Supermarkets Disappear, Declining Together

On the afternoon of the 16th, the 'Pping Market' alley near Yeongdeungpo Agricultural Products Market in Yeongdeungpo-gu, Seoul, appeared quiet with no customers visiting.
Photo by Song Seung-yoon

[Asia Economy Reporters Song Seung-yoon and Koo Eun-mo] "Where is the Ppingsijang? That's all in the past."

At around 1 p.m. on the 16th, at Yeongdeungpo Fruit and Vegetable Market in Yeongdeungpo-gu, Seoul. Entering the alley between fruit shops lined along the road, the scene was no different from a typical residential area. However, going a bit further inside, there were rows of mysterious shops with names like ‘○○Sanghoe’ and ‘××Sangsa’. This place was the so-called ‘Ppingsijang’ where unsold goods from food company dealerships used to flow in as clearance items. Various products such as beverages, ramen, and sauces were traded at about half price, earning nicknames like ‘Kkangtong Market’, ‘Kkang Market’, and ‘Clearance Market’. However, now it barely survives. Due to changes in the distribution structure and the disappearance of key customers such as neighborhood supermarkets and other retail stores, it has declined along with them.

In fact, on the day of the visit, there were more shops with shutters down and firmly closed than those operating in the Ppingsijang alley. Here and there, banners with the word ‘For Rent’ were posted, suggesting many had not opened for a long time. About 8 to 9 years ago, shops were densely packed throughout the alley, but as this situation continued, two-thirds of them closed, and multi-family housing was built in the alleys where shops originally existed, turning about half of the area into a residential zone.

At that time, these goods were sold cheaply but through so-called ‘no-document transactions’ rather than legitimate transactions with tax invoice issuance. However, due to ongoing criticism that it was a hotbed for tax evasion, such transaction types have now completely disappeared, according to local merchants. In these shops, a 90g bag of Nongshim Spicy Shrimp Kkang, with a recommended retail price of 1,000 won, is priced in the 880 won range. The 900 won squid jjambbong cup is about 700 won. Considering that ‘clearance products’ used to be sold about 40-50% cheaper, the price advantage is not significant. For these reasons, the number of visitors has decreased, and now even fewer people know about this place.

On the afternoon of the 16th, boxes of ramen and bottled water were stacked in front of a store in the 'Pping Market' alley near Yeongdeungpo Fruit and Vegetable Market in Yeongdeungpo-gu, Seoul.
Photo by Song Seung-yoon

Kim Chan-young (47, female), who visited the market that day, said, "I run a bar and came to buy necessary items. Since the shop is nearby, I come occasionally, but if it were far, I wouldn’t have a reason to visit."

Changes in the distribution landscape also played a role. Since most customers were those operating retail stores like supermarkets, the gradual disappearance of neighborhood supermarkets had a significant impact. Except for deliveries to regular clients or occasional visitors, new customers were rare, and some shops reported sales dropping to as low as one-tenth compared to 10 years ago.

Kim Seong-ho (43, pseudonym), who has run a shop here for 13 years, said, "With over 100 shops closing, it’s been a long time since I’ve heard the term Ppingsijang. Occasionally, goods brought from dealerships are not purchased cheaply, so naturally, we can’t sell like before. As places to supply goods disappear, now only 2 to 3 places, including this one, sell food products."

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