Secured 60 Million KRW Incentive Budget, Boosting Future Related Projects... Merchant-Led Activation Projects Including Merchant YouTuber Training and Live Commerce Promotion
[Asia Economy Reporter Jongil Park] Yangcheon-gu (Mayor Kim Soo-young) announced that Sinwol 1-dong Sinyeong Market received the highest S grade in the 2020 Cultural Tourism Market Development Project performance evaluation conducted by the Ministry of SMEs and Startups and the Small Enterprise and Market Service.
The Cultural Tourism Market Development Project is a public contest project by the Ministry of SMEs and Startups aimed at fostering themed traditional markets linked with local culture and characteristics.
This evaluation was conducted on 45 markets nationwide selected as targets of the 2020 Cultural Tourism Market Development Project, and Sinyeong Market received an S grade in the performance evaluation, being recognized as the nation's top cultural tourism market.
As an incentive for the highest grade, an additional 60 million KRW was provided for the project budget, and including this incentive, a total of 500 million KRW has been allocated this year, which is expected to further accelerate the project implementation.
Sinyeong Market has been carrying out various projects to create a ‘play-specialized market where customers and merchants empathize, communicate, and share with the community.’
Based on a ‘merchant-led project’ to overcome COVID-19, it has taken the lead in increasing online sales and digitalizing traditional markets through various challenges such as training merchant YouTubers, joint consumption promotion events, mobile paybacks, and live commerce.
As a result, it was selected as an ‘Excellent Case of Small Enterprise and Market Service Specialization Project’ and ‘Excellent Case of Dadaikseon,’ and has been active by being selected for the Ministry of SMEs and Startups’ smart pilot shopping district, digital manager, the Win-Win Growth Committee kiosk distribution project, and recently receiving the Seoul Metropolitan Government Safety Award.
Additionally, Sinyeong Market was selected as an implementing agency together with the Korea Easy Payment Promotion Agency for the ‘2021 Seoul Zero Pay Infrastructure Distribution Project,’ receiving a budget of 50 million KRW to concurrently promote the Zero Pay activation project.
Kim Soo-young, Mayor of Yangcheon-gu, stated, “The Sinyeong Market Merchants’ Association and the project promotion team worked as one to create a safe and vibrant market trusted and visited by citizens with various ideas suitable for the COVID-19 era, which is enough to serve as a model for other markets,” and added, “We will actively support Sinyeong Market to rise as the best market in Korea following this achievement.”
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