Gunsan Iseongdang and Seoul Jinju Hoegwan Become 'Baeknyeon Gage' (Centennial Stores)

Ministry of SMEs and Startups Selects 80 'Baeknyeon Gage' Stores in 2nd Round of 2020
Includes 30 Businesses Recommended by Numerous National Landmarks and Citizens

Iseongdang in Gunsan, selected as a Baeknyeon Gage (100-Year Store)

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as the Ministry) announced on the 9th that it has newly selected 80 excellent small business owners, who are successful models for small merchants, as 'Baeknyeon Gage' (Century-old Stores), increasing the total number of Baeknyeon Gage nationwide to 485.

By industry, restaurants such as 'Iseongdang' in Gunsan, 'Jinju Hoegwan' in Seoul, and 'Naeho Naengmyeon' in Busan were the most selected with 43 stores. In addition, various other types of Baeknyeon Gage that can be encountered in daily life were discovered, including rice cake mills, automobile repair shops, noodle shops, and hostels. Through the national recommendation system first introduced in February, 30 new businesses were also selected, increasing the total number of Baeknyeon Gage discovered by the public to 49.

Since June 2018, the Ministry has been selecting Baeknyeon Gage by evaluating stores with over 30 years of business experience based on the owner's willingness to innovate, product/service differentiation, and business sustainability to discover successful models for small merchants. Baeknyeon Gage receive support such as capacity building through expert consulting, holding plaque ceremonies, and promotion through major domestic O2O platforms and media. Additionally, a Baeknyeon Gage visit certification photo event will be held for three weeks from the 14th of this month to the 4th of next month. Visitors who upload their visit photos to the webpage will be entered into a draw to win prizes such as computers and Onnuri gift certificates.

A Ministry official said, "The time small merchants have accumulated so far is itself a remarkable history and tradition," adding, "We hope that through the Baeknyeon Gage brand, more people will learn about these stores and that Baeknyeon Gage will establish themselves as successful models for other small merchants."