Yeongju-si, Awarded 'Best Performance' for Regional Economic Revitalization Evaluation for 3 Consecutive Years

Revitalizing Traditional Markets and Supporting Small Businesses: A Model Case for Regional Economic Development

Yeongju City in Gyeongbuk is gaining attention as a model case for revitalizing traditional markets and supporting small business owners.

Yeongju City is taking a commemorative photo after receiving the top award for three consecutive years in the local economic revitalization evaluation. Photo by Yeongju City

At the ‘2024 Gyeongbuk Province Regional Economic Revitalization Excellent City and County Awards’ held on the 24th, Yeongju City received the top award for the third consecutive year, recognizing its dedicated efforts to revive the local economy despite the economic downturn.

The regional economic revitalization evaluation is a system that comprehensively assesses policy achievements aimed at revitalizing the local economy, including support for traditional markets and small business owners, across 22 cities and counties in Gyeongbuk Province, selecting outstanding cities and counties.

Since 2022, the city has proven the results of continuous and systematic economic policies by receiving the top award for three consecutive years.

In this year’s evaluation, the city received high marks for various projects implemented to revitalize 13 local traditional markets and shopping districts, as well as support policies for small business owners. In particular, projects that revitalized traditional markets by leveraging local characteristics and various support measures that helped stabilize the management of small business owners received favorable reviews.

Mayor Park Nam-seo said, “This award is the result of Yeongju City’s consistent efforts to revitalize the local economy, and we will further strengthen policies supporting traditional markets and small business owners,” adding, “We will do our best to restore vitality to the local commercial districts and ensure sustainable growth of the local economy.”

Yeongju City plans to promote various projects next year to recover and grow the local economy. Major projects include ▲construction of a public parking lot at Punggi Native Ginseng Market ▲designation of the original downtown autonomous commercial district ▲modernization and specialization projects for traditional market facilities ▲support projects for the management stabilization of small business owners, which are expected to serve as a foundation for stable growth of the local economy despite the economic downturn.

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