Gangneung City Secures 3.5 Billion Won in National Funding for 'Myeongju and Nammun-dong Commercial Area Revitalization Project'

Promoting Economic Recovery and Revitalization of the Old Downtown Commercial Area
Full-Scale Implementation to Begin in 2026

Gangneung City's 'Myeongju and Nammun-dong Commercial Area Revitalization Project' has been selected for the 2026 Commercial Area Revitalization Project, organized by the Ministry of SMEs and Startups. As a result, Gangneung City has secured a final allocation of 3.5 billion won in government funding in next year's national budget.

Location map of Gangneung City's 'Myeongju and Nammun-dong Commercial Area Revitalization Project'. Provided by Gangneung City.

This confirmation lays the foundation for the recovery of the local commercial area and the revitalization of the old downtown, with a phased implementation of the project set to begin in 2026.

The 'Myeongju and Nammun-dong Commercial Area Revitalization Project' has a total budget of 7 billion won (3.5 billion won in national funding, 1.05 billion won from the province, and 2.45 billion won from the city). The project aims to restore an attractive local commercial district through storytelling, utilizing historical assets such as the Daedohobu government office and Japanese-style houses in Myeongju-dong and Nammun-dong, which have long served as administrative centers.

This multi-year project will be carried out over five years, from 2026 to 2030, with the autonomous commercial district association taking the lead. The project will focus on: ▲ developing local content, ▲ establishing a start-up platform, ▲ creating a commercial area designed for longer visitor stays, and ▲ fostering sustainable governance through digital transformation of the commercial district.

To ensure the project can move forward in earnest next year, the city plans to obtain approval for the designation of the autonomous commercial district and the business plan by December of this year. Through this initiative, Gangneung City aims not only to transform Myeongju and Nammun-dong into new cultural and economic hubs, but also to promote sustainable urban regeneration that invigorates the local community.

Gangneung Mayor Kim Hongkyu stated, "The Myeongju and Nammun-dong Commercial Area Revitalization Project is not simply a matter of physical renovation, but a sustainable economic revitalization model based on the region's identity and culture. With the securing of national funding, we will deliver tangible results that both citizens and small business owners can truly feel."

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