"Let's Revive Local Businesses"... Seocho-gu Launches 60 Billion Won Munjeonseongsi Project

Measures to Revitalize 11 Alley Commercial Districts
"Support Aimed at Making All of Seocho a Bustling Marketplace"

Seocho-gu, Seoul (Mayor Jeon Seong-su) is launching the largest-ever 60 billion KRW-scale ‘Munjeonseongsi 3 Major Projects’ to support small business owners and residents suffering from the economic downturn.

Jeon Seong-su, Mayor of Seocho District (center in the photo), is visiting the Jamwon-dong commercial area, inspecting various alleys. Provided by Seocho District.

According to Seocho-gu, Mayor Jeon Seong-su has been visiting local communities since December last year to listen directly to merchants’ voices and contemplate ways to revive the economy. On site, merchants expressed that while prices of ingredients and rents are skyrocketing, social activities such as office gatherings and evening appointments are decreasing, freezing the year-end and New Year’s atmosphere for merchants, and they collectively called for active support from the district.

Accordingly, the district will invest 7.7 billion KRW, a 36.5% increase from last year, into 11 alley commercial districts including Yangjaecheon-gil, Maljukgeori, and Bangbae Cafe Alley, focusing on branding, landmark creation, events, and low-interest financial support tailored to each commercial district’s characteristics. Among local brand commercial districts, the Chemistreet Gangnam Station area will be branded as ‘K-Taste, Style, and Beauty,’ while the Yangjaecheon-gil district will focus on strengthening its brand based on ‘Salon in Yangjaecheon.’

While Seocho Gangnam Station will showcase its charm through pop-ups, exhibitions, and performances linked with external resources, Yangjaecheon-gil is expected to expand the salon culture lifestyle centered around the Yangjae Salon Hall (1st floor of Yangjae Public Parking Lot). The Yangjae Art Salon, which has grown into a representative cultural market of Seoul, will continue to operate year-round at Yangjaecheon this year to support small business owners in developing sales channels and enhancing competitiveness.

Additionally, alley commercial districts such as Jamwon Hagil (Jamwon-dong commercial district), Cheonggyero-wa (Cheonggyesan entrance commercial district), and Bandeure-gil (Banpo 1-dong commercial district) will expand events like beer festivals, trekking festivals, and light festivals utilizing local resources, and install symbolic landmarks representing each commercial district.

Furthermore, the ‘Seoripul Artterior’ project, which supports interior and exterior improvements and product design for small business stores in collaboration with local artists, will be implemented on the largest scale in Seoul with 100 locations, leading efforts to enhance small business competitiveness. For small and medium-sized enterprises, the district will alleviate financial burdens through 6 billion KRW in SME development fund loans and 50 billion KRW in ultra-fast loans under low-credit and unsecured conditions.

The district will also stimulate consumption to open residents’ closed wallets. Seocho Love Gift Certificates (5% discount) and Seocho Ttaenggyeoyo Gift Certificates (15% discount) will be issued annually at 48 billion KRW and 3.6 billion KRW respectively to help recover the depressed consumer sentiment. On the 15th, the district will issue 18 billion KRW worth of Seocho Love Gift Certificates early for Lunar New Year to boost domestic demand during the holiday season.

Not only residents but also various institutions and organizations within the region will be encouraged to actively use local commercial districts through the ‘Good Consumption Accompaniment Pledge for Revitalizing Seocho-gu Alley Economy,’ which will be launched for the first time this year. Internally, the district will encourage departments to use matched alley commercial districts, and campaigns supporting good consumption by residents and reasonable coexistence between landlords and tenants will be conducted through banners, electronic displays, and social network services (SNS).

The ‘Lunar New Year Grand Market,’ which reduces residents’ holiday shopping burdens, will also be held from the 22nd of this month. The ‘Seocho Direct Transaction Large Market,’ the only regularly operated market in front of the district office in Seoul, is highly popular for its differentiated advantage of offering fresh and diverse Korean agricultural, fishery, and livestock products at reasonable prices in this era of high inflation.

Mayor Jeon Seong-su said, “Our biggest goal this year is to encourage good economic activities where residents and merchants coexist and to revitalize commercial districts so that every alley becomes a bustling marketplace. We will spare no support to ensure that alley commercial districts, which are residents’ living spaces and indicators of the livelihood economy, are filled with smiles instead of sighs.”

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