"I also spent 3 billion won of my own money... Mayor Yesan, Let's Look Ahead"

Baek Jong-won was revealed to be struggling with gentrification ahead of the reopening of Yesan Market.

On the 17th, a video titled ''Baek Jong-won Becomes the Market Master Episode 13: The Fantastical Yesan Market Reopened, We Will Show You Something' was uploaded on Baek Jong-won's YouTube channel, showing Baek Jong-won rushing around until the opening of Yesan Market.

The video showed Baek Jong-won persuading local merchants one by one during a public hearing and carefully inspecting the construction site of Yesan Market.

On the 17th, the YouTube channel Baek Jong-won uploaded a video titled "Baek Jong-won Becomes a Market Owner Episode 13: The Fantastical Yesan Market Reopens... We Will Show You Something." [Photo by YouTube channel 'Baek Jong-won']

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The renewal of the permanent market in Yesan, Chungnam, known as Yesan Market, is a regional win-win project carried out by Baek Jong-won together with his company, The Born Korea. The project started with the purpose of developing the market, attracting people, and revitalizing the local economy.

As the market's attractions and food offerings raised expectations, more visitors than anticipated came, leading to problems such as long waiting times and parking difficulties, prompting preparations for reopening. Along with this, the accommodation fee, which was around 60,000 won, soared to 140,000 won, causing complaints.

In the video, Baek Jong-won met directly with lodging business owners and nearby restaurant owners, mentioning the complaints from people around the market saying, "Because of you, everything except Yesan Market is dying," and said, "I have spent 2 to 3 billion won here, but I could have chosen not to do it. If it continues like this, the Yesan Market project may not continue."

Nevertheless, he referred to statistical analysis, saying, "Even if people come through the market, only about 5% of the capacity can be accommodated here," and urged, "Since these people go out to have fun and eat around here, please do not raise prices too much and adjust accordingly."

In the video, Baek Jong-won said, "We spent 2 to 3 billion won on the Yesan Market project. The money was not wasted. It would have been fine even if we didn't do it," and lamented, "But because of you, everything except Yesan Market is dying! Why do I have to hear this? There's no need to continue the Yesan Market project anymore."
[Photo by YouTube channel 'Baek Jong-won']

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What angered Baek Jong-won the most was 'gentrification.' Gentrification is a term derived from 'gentry,' meaning landlords or the gentleman class, referring to the phenomenon where a deteriorated area becomes prosperous, attracting people, causing rent to rise, and displacing original residents.

Not only Yesan Market but also areas known for their unique charm and popular among many people, such as Sinsa-dong Garosu-gil, Hongdae, Itaewon, and Samcheong-dong, have lost their characteristics and faced commercial collapse due to gentrification. Seochon, Ikseon-dong, and Seongsu-dong were also cited as areas where gentrification has intensified.

During the one-month grace period for the reopening of Yesan Market, Baek Jong-won and The Born Korea simultaneously carried out construction at 14 sites. This was a larger scale of construction than the first opening.

[Photo by YouTube channel 'Baek Jong-won']

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However, while inspecting the construction site, Baek Jong-won received news that the owner of a chicken restaurant who had helped from the early stages of the Yesan Market project was ordered to vacate by the building owner. Baek Jong-won personally visited the owner and his wife to check the situation and said, "Let's keep communicating." He also announced the new location of the chicken restaurant through the video.

He appealed, saying, "I heard that lodging costs have doubled. That damages the image of Yesan, which was hard to build (by overcharging). I also heard that nearby noodle shops raised their prices. Let's endure just for two years. Raising prices won't suddenly make your household wealthy. Currently, 95% of people at Yesan Market leave without eating. Let's resolve it nearby and move on. This is a really big opportunity. You will regret it greatly later."

In a subsequent interview, Baek Jong-won said, "There are people who refused even when offered double the market price," and criticized those who try to make a quick profit from rising rents and land prices, saying, "I want to give a plaque of appreciation to those who sympathized with the purpose and cooperated."

Representative Baek showed concern about conflicts with merchants outside the market as the budget market prospered, the issue of 'gentrification' where landlords evict tenants from successful shops, and the disruption of the price ecosystem caused by outsiders coming in and opening stores.
[Photo by YouTube channel 'Baek Jong-won']

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Along with this, Baek Jong-won repeatedly emphasized 'coexistence.'

Finally, in a meeting with The Born Korea employees, Baek Jong-won explained the significance of the Yesan Market project, saying, "Developing the region evenly, attracting tourists, and steadily accumulating our know-how as a company greatly increases corporate value." When an employee expressed concern, "What if wealthy companies copy this?" he replied, "I think it's okay," and emphasized, "If other companies or local governments inquire about this, share everything with them."

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