Dongjak-gu Launches Initiative to Revitalize Commercial Areas Around Sadang Station to Isu Station

Selected as the Ministry of SMEs and Startups' Commercial Renaissance Target Area for the Sadang Station to Isu Station Zone (183,332㎡) last year... Up to 10 billion KRW invested over 5 years... Linked with Sadang 1-dong Food Alley and Namseong Sagye Market Commercial Areas ▲ Theme Street Creation ▲ Commercial Area Specialization ▲ Smart Commercial Area Development... Establishing a Commercial Revitalization Plan reflecting residents' opinions through public briefings... Five-year plan to be finalized and announced next month

Lee Chang-woo, Mayor of Dongjak District, is shopping at Namseong Sagyemarket, where a commercial renaissance is being promoted.

[Asia Economy Reporter Jongil Park] Dongjak-gu (Mayor Changwoo Lee) has begun establishing a five-year business execution plan for the 'Sadang Station-Isu Station LINK Commercial District,' which was selected last year as a target site for the 'Commercial District Renaissance Contest Project' hosted by the Ministry of SMEs and Startups.

The Commercial District Renaissance is a project that revitalizes declining grassroots alley commercial districts, including traditional markets and shopping streets. It is a large-scale investment project that will invest up to 10 billion KRW over five years starting this year.

The 'Sadang Station-Isu Station' commercial district spans approximately 183,000㎡ and houses about 820 stores, including representative local commercial districts such as the 'Sadang Station Food Alley' and 'Namseong Saje Market.'

According to the basic design of the project, the Commercial District Activation Plan, the district plans to promote projects such as ▲creating four-color themed streets ▲developing a representative commercial district brand and integrated marketing and promotion ▲merchant capacity-building education ▲developing specialized products and establishing a distribution platform ▲installing unmanned commercial district information centers integrated with smart technology.

Earlier this month, the district completed the formation of the 'Commercial District Management Organization Establishment TF Team' and the 'Temporary Project Preparation Group,' aiming to designate the 'Commercial District Activation Zone' and establish and announce the 'Commercial District Renaissance Five-Year Commercial District Activation Business Plan' by the end of March.

To this end, the district is reviewing the business plan through ▲diagnosis by commercial district experts ▲consultations with related organizations such as the Ministry of SMEs and Startups ▲and holding resident briefings involving merchants to gather opinions from local residents and establish the business plan.

Two resident briefings were held on February 3 and 10, and one more briefing is planned before finalizing the business plan.

Additionally, the district is preparing to launch the (tentatively named) Dongjak-gu Economic Promotion Foundation, a commercial district management organization that will professionally lead the Commercial District Renaissance project within this year.

For detailed information regarding the project, inquiries can be made to the Economic Promotion Division.

Kim Jungwon, head of the Economic Promotion Division, stated, “The Commercial District Renaissance is a future project of the district aimed at driving economic development throughout Dongjak-gu by revitalizing the Sadang area commercial district,” and added, “We will do our best to ensure that the project becomes a win-win initiative between the public and private sectors through the establishment of a commercial district activation plan that reflects the opinions of local residents.”