Jinju City Secures 360 Million KRW in National Funding from the Ministry of SMEs for 'Traditional Market Revitalization'

Improvement of Market Environmental Design, Promotion and Marketing, Support for Merchants' Online Expansion, and Strengthening Self-Reliance

Mayor Jo Gyu-il visits the construction site of Daegwanmun Arcade at Jungang Market.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, announced on the 17th that three projects were selected in the '2022 Traditional Market and Shopping District Support Project' contest hosted by the Ministry of SMEs and Startups, securing 360 million KRW in national funding.

The Jayu Market's 'Cultural Tourism Market Development Project,' selected in this contest, is a project investing a total of 440 million KRW over two years, including 176 million KRW in national funds and 264 million KRW in city funds, aimed at improving environmental design and strengthening promotion and marketing.

In the case of Jungang Market, it was finally selected for the 'Traditional Market Parking Environment Improvement Project,' securing a total project budget of 98 million KRW, including 59 million KRW in national funds and 39 million KRW in city funds. This money will be used to refurbish the aging CCTV in the public parking lot.

Four markets?Jayu, Jungang, Cheonggwa Market, and Dongseong Shopping District?were selected for the 'Market Management Package Project' and plan to carry out projects in various fields such as online platforms and delivery services with a project budget of 152 million KRW, including 130 million KRW in national funds.

Jinju City is promoting the revitalization of the depressed traditional markets by investing a budget of 8 billion KRW in the central commercial district revitalization project. Additionally, it is discovering and implementing various policies such as facility modernization projects including the Jungang and Nongae Market Daegwanmun Arcade Project and the One Market One Specialization Project.

A city official stated, “We will do our best to promote the selected projects in close cooperation with the merchants' association so that traditional markets can regain their former glory and be revitalized.”