Sadang Station to Isu Station Area (183,332㎡) Selected as Ministry of SMEs and Startups Commercial District Renaissance Target... Up to 10 Billion KRW Invested Over 5 Years... Linking Sadang 1-dong Food Alley and Namseong Sagye Market Commercial District ▲ Theme Street Creation ▲ Commercial District Specialization ▲ Smart Commercial District Development... This Month, Establishment of Commercial District Management Organization and Dongjak-gu Economic Promotion Foundation for Systematic Project Support... Target Launch in October Next Year
[Asia Economy Reporter Park Jong-il] Dongjak-gu (Mayor Lee Chang-woo) announced on the 2nd that it has been selected for the 2020 Commercial District Renaissance Contest, hosted by the Ministry of SMEs and Startups, for the ‘Sadang Station-Isu Station LINK Commercial District.’
The Commercial District Renaissance is a project that revitalizes declining grassroots alley commercial districts, including traditional markets and shopping streets, providing up to 10 billion KRW over five years.
The ‘Sadang-Isu Station’ commercial district covers the area around Dongjak-daero 1~31-gil (183,332㎡), with about 820 stores, including representative local commercial districts such as ‘Sadang 1-dong Food Alley Shopping Street’ and ‘Namseong Sagye Market.’
Through this contest selection, the district plans to promote linked projects such as ▲creating themed streets ▲marketing and promotion including developing a representative commercial district brand ▲education to strengthen merchant capabilities ▲operating specialized products and establishing a distribution platform for LINK commercial district specialization ▲and unmanned commercial district guidance for fostering a smart commercial district.
First, the designation of the commercial district activation zone will be completed by February next year, and based on the business roadmap established through research services, the first-year project will begin in June with advice from university professors and commercial district analysis experts.
To ensure systematic project implementation, preparations for establishing the (tentatively named) Dongjak-gu Economic Promotion Foundation, a commercial district management organization, will begin this month, aiming for its launch in October next year.
Along with this, the district is carrying out various projects to revitalize the commercial district around ‘Sadang-Isu Station.’
Since February this year, a customer support center has been operated within Namseong Sagye Market to support the convenience of residents and merchants, and in January next year, a 19-space flat public parking lot will be completed.
Also, by the end of this year, the signboard improvement project for Sadang 1-dong Food Alley will be completed, applying signboard designs with a newtro sensibility to about 170 businesses to promote the influx of visitors, including young people.
Lee Chang-woo, Mayor of Dongjak-gu, stated, “With this Commercial District Renaissance project, we will further develop the Sadang-Isu Station commercial district, which has great growth potential, to bring vitality to the local economy, which has been stagnated due to COVID-19,” and added, “We will do our best to realize an economically vibrant city where both small business owners, the backbone of the local economy, and residents are happy.”
Dongjak-gu Economic Promotion Division
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
