What Is the "New Night-Time Economy" Adopted by Major Cities Worldwide?

Daejeon City Council Urban Marketing Research Group
Proposes a New Paradigm for Urban Development

Photo by Daejeon City Council

Major cities around the world are strategically introducing the "new night-time economy" as a policy to invigorate their urban economies.

On August 5, at a special lecture for experts held in the Communication Room of the Daejeon City Council, Jeong Kanghwan, Dean of the Graduate School of Tourism, Festivals and Hallyu at Paichai University, stated, "Major cities around the world are strategically adopting the new night-time economy, and this is becoming a new paradigm for urban development that goes beyond a simple trend."

Dean Jeong added, "If Daejeon becomes a leading city for the new night-time economy in Korea, it will be an opportunity for Daejeon's urban competitiveness to grow explosively and for the city to leap forward as a global city."

He explained, "Generally, when people think of the 'night-time economy,' they tend to associate it with drinking and entertainment culture. However, the new night-time economy goes beyond the traditional concept of 'night,' encompassing diverse areas such as leisure, culture, and shopping in a healthy and structured way."

On this day, the Daejeon City Council's Urban Marketing Research Group (Chairperson: Lee Geumseon) held a special lecture on the topic of "Innovative Strategies for the New Night-Time Economy in Advanced Countries to Revitalize the Yuseong Tourism Special Zone."

This special lecture aimed to understand the concept of the "new night-time economy (NTE)," which has recently attracted attention as an innovative urban revitalization strategy in advanced countries, and to explore ways to promote healthy growth and enhance urban vitality for the sustainable growth of local tourism and the enhancement of the city's brand value.

Jo Wonhui, Chairperson of the Daejeon City Council (People Power Party, Yuseong 3), who attended the lecture, said, "The new night-time economy policy seems like a good strategy to revive the currently stagnant Yuseong Tourism Special Zone."

An Gyeongja, Council Member (People Power Party, Proportional Representation), commented, "For the new night-time economy paradigm to succeed in Daejeon, it is necessary to designate competitive zones."

Lee Geumseon, Chairperson of the Research Group (People Power Party, Yuseong 4), stated, "Based on the discussions held today, I will strive for substantial operation of the research group, including selecting policy research projects." She also expressed her agreement on the need to introduce the new night-time economy and establish an institutional foundation as a new approach to securing the city's brand competitiveness.

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