Changwon City to Revitalize Declining Jinhae Naval Port Commercial Area into a 'Renaissance Era'... 2 Billion Won Invested to Support Commercial Revival

Current Status Map of Jinhae Naval Port Commercial District Renaissance Project. [Image Source=Changwon City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Changwon City, Gyeongnam, held a meeting with the Jinhae Central Market Merchants Association and the Commercial District Revitalization Foundation on the 18th to promote the second year of the ‘Jinhae Naval Port Commercial District Renaissance’ project.

The Jinhae Naval Port Commercial District Renaissance is a project aimed at revitalizing the declining old Jinhae area commercial district by investing 10 billion KRW over five years starting in 2021, under the theme of ‘Time Travel in Modern Historical and Cultural Spaces.’

The project, which took its first step in 2021, organized the ‘Commercial District Revitalization Council’ composed of Changwon City Council members, public officials, local merchants and residents, and experts. It designated the commercial district revitalization zone, announced a five-year business plan, established the Jinhae Naval Port Commercial District Revitalization Center, developed a representative brand, supported merchant clubs, produced promotional videos for the naval port commercial district, and executed 13 projects with a budget of about 1 billion KRW in the first year.

The Changwon City Commercial District Revitalization Foundation, responsible for project implementation, plans to carry out environmental improvement projects in the second year, such as creating a modern historical market space and establishing a specialty street for Wuhae cuisine.

Additionally, with a budget of 2 billion KRW, a total of 24 projects will be promoted, including activating Blossom Street through local cultural events, supporting Blossom Startup to revitalize naval port commercial district entrepreneurship, and opening Cherry Blossom Culture Academy lectures to create a market that grows together with local residents.

Kim Bu-sik, Director of the Economic Revitalization Division, said, “While there were many difficulties in promoting the first-year project due to the foundation of the project and the spread of COVID-19, we will do our best to promote the second-year project by strengthening communication with local merchants, residents, project stakeholders, and institutions.”