Oh Se-hoon: "Transform Old Noryangjin Market into a Modern Architectural Landmark... Beauty Hub in Dongdaemun"

On the 12th, Oh Se-hoon, the People Power Party candidate for Seoul mayor, declared his candidacy for Seoul mayor in Gocheok-dong, Guro-gu, Seoul. Photo by Dongju Yoon doso7@

[Asia Economy Reporter Seongpil Cho] Oh Se-hoon, the People Power Party candidate for Seoul mayor, announced on the 15th that he will transform major traditional markets in Seoul, including the old Noryangjin Fish Market, into regional landmarks harmonized with modern architecture.

On the same day, Oh Se-hoon announced the 'Small Business Support Plan and Regional Economic Revitalization Measures' at Dongdaemun Millore. First, he plans to establish a Traditional Market Innovation Promotion Team to discover leading models and formulate an architectural innovation master plan to revitalize traditional markets. Through active support from both private development and the public sector, the goal is to reinvent traditional markets as regional landmarks where markets and modern architecture coexist, similar to 'Encarnacion' in Seville, Spain, and 'Markthal' in Rotterdam, the Netherlands.

The targets for traditional market innovation include large markets such as the old Noryangjin Fish Market, Namdaemun and Dongdaemun markets, Majang Livestock Market, as well as alley-type traditional markets in various regions. Oh plans to promote commercial district revitalization along with environmental improvements such as securing parking spaces, improving stall environments, and expanding convenience facilities through pilot projects in these areas. Measures for merchant relocation and resettlement, as well as compensation for losses during construction periods, will also be prepared.

In Dongdaemun, a core hub for the beauty industry (Global Beauty Industry Hub) will be established. A tentatively named 'Seoul Beauty Hub' will be created on the 4th and 5th floors of the DDP Fashion Mall (formerly Yours Building), and in collaboration with Seoul Fashion Hub, Dongdaemun will be developed into a Seoul-style beauty industry hub. The designation of a 'Beauty Convergence Specific Development Promotion District' to concentrate and nurture beauty businesses in Dongdaemun will also be pursued. Additionally, a media art landmark will be created in the Dongdaemun area featuring large-scale media fa?ades, and nighttime sales increase will be promoted through the designation of an outdoor advertising special zone.

Oh also pledged that Seoul City will provide daily recovery support funds to 126,000 business sites in industries facing management crises, as promised. This includes individual taxi operators and home-based business owners. Oh plans to implement 'Safe Interest Rate Support' for small business owners as well. Fixed interest rates of around 2.5?3% per annum will be supported with a maximum limit of 100 million KRW per business for 35,000 companies. To revitalize declining major commercial districts such as Hongdae and Myeongdong, 200 local brand commercial districts will be supported by 2030, and regulatory easing that harms business environments and fostering creative small business owners (local creators) will also be promoted.