Myeongdong and Itaewon Merchants' Tears: "No Special Boost from Emergency Disaster Relief Funds"

April Foreign Tourists Down 98% Year-on-Year
Popular Tourist Spots for Foreigners Desolate

"Emergency Disaster Relief Funds Feel Like a Distant Story"
"Struggling to Bear Losses, Forced to Take to the Streets"

On the 27th, the streets of Myeongdong in Jung-gu, Seoul were visited. Since the outbreak of the novel coronavirus infection (COVID-19), the streets have been quiet as foreign tourists have stopped coming.

[Asia Economy Reporter Lee Jung-yoon] "Emergency disaster relief funds feel like a story from a distant country."

Kim Ok-bun (53), who runs a restaurant in Myeongdong, Jung-gu, Seoul, said that since the outbreak of the novel coronavirus disease (COVID-19), it has been difficult to make a living. Although the government provided emergency disaster relief funds to all citizens to support small business owners and stimulate domestic consumption, Kim has seen little benefit. She said, "It is hard to find people using the emergency disaster relief funds, and there are many days when daily sales are only a few tens of thousands of won," adding, "It is difficult to even pay labor costs and rent, so I am barely holding on by taking out loans."

The situation is even more severe in Itaewon, a commercial district centered around foreign tourists like Myeongdong. Due to the 'n-th wave infection' originating from Itaewon clubs, it has become a dead commercial area where not only foreigners but even locals avoid visiting. Jeon Se-na (55), who runs a convenience store, said, "My husband and I work in shifts for 17 hours a day, but our monthly income is less than 1 million won." Merchant Park (37) also said, "The emergency disaster relief funds do not apply to us, so I did not even bother to look up any related information."

Myeongdong is strong in Hallyu products, and Itaewon is known for clubs frequently visited by foreigners, making them some of Seoul's representative tourist spots. However, the streets were deserted. It was hard to find foreign tourists dragging suitcases, looking around, or asking about prices. Due to the impact of COVID-19, shops were seen closing with notices posted or taking this opportunity to renovate interiors, one after another.

According to the Korea Tourism Organization's April tourism statistics, the number of foreign tourists visiting Korea from January to April decreased by 63.1% compared to the same period last year. In particular, the number of foreign tourists visiting Korea in April was 29,415, a 98.2% decrease compared to the same month last year. Chinese tourists numbered 3,935, down 99.2%, and American tourists numbered 6,417, down 93.7%. Only 360 Japanese tourists visited Korea.

Kim (55), who runs a souvenir shop in Itaewon, said, "I have been holding on for over two months trying to keep the store alive," adding, "If I continue to suffer losses, I might really end up homeless, so I am looking for other work." Kim decided to close the business at the end of this month and was clearing out inventory by selling products priced at 10,000 to 20,000 won for 1,000 won.