[Report] Redevelopment in Full Swing at 'Sewoon 4 District'... Where Have the Merchants of 'Yejidong Watch Alley' Gone?

'Yejidong Watch Alley' in Sewoon 4 District, Alongside Gwangjang Market, Yejidong Watch Alley Merchants... Relocate to Sewoon Square, Euljiro, Jongno, Leaving Their New Addresses on Redevelopment Construction Fences

Currently, the relocated street vendor is operating a store near the first floor of Sewoon Sangga.
Photo by Intern Reporter Kim Gun-chan kgc6008@asiae.co.kr

[Asia Economy Intern Reporter Kim Gunchan] The redevelopment of Sewoon 4 District in Jongno-gu, Seoul, is currently underway, with demolition work in full swing. The construction site is fenced off, preventing entry. Observers can only watch the demolition process from the stairs on the second floor of Sewoon Shopping Center. Located between Sewoon Shopping Center and Gwangjang Market, this area was once filled with buildings repairing and selling parts for watches, jewelry, and lighting. Among them, the 'Yeji-dong Watch Alley' was a representative place of Yeji-dong alongside Gwangjang Market. Now, only faint traces of Yeji-dong Watch Alley can be found from the stairs on the second floor of Sewoon Shopping Center.

The Sewoon 4 District redevelopment, managed by Seoul Housing and Communities Corporation (SH Corporation), is scheduled for demolition until August. A mixed-use commercial building combining offices and officetels is planned to be constructed here by March next year.

Merchants of Yeji-dong Watch Alley had to leave Yeji-dong due to the demolition work that began in December last year. According to Anchor Lab, a startup youth company that has been conducting research on the Yeji-dong watch industry and created a relocation map for the watch alley, about 35% of the watch alley stores relocated to Sewoon Square, a temporary alternative business site nearby, during 2021. The remaining merchants moved to areas such as Euljiro, Jongno, Dongdaemun, Dongmyo, Sogong Underground Shopping Center, and Namdaemun Market.

The fences surrounding the Sewoon 4 District under demolition bear the desperate voices of the watch alley merchants who had no choice but to leave Yeji-dong. The merchants left traces of their relocation on the construction fences placed at the outer edge of Yeji-dong, where they had maintained their livelihoods for decades.

Merchants in the Clock Alley left traces of their relocation on the construction fence.
Photo by Kim Gun-chan, Intern Reporter kgc6008@asiae.co.kr

Oh Jong-jin (53), who runs Myeongseong Rolex and continues a watch repair family business for three generations, moved from Watch Alley to the underground shopping center in Jongno 4-ga in July last year. Oh said he wrote relocation information on the construction fence because "it is not easy to pioneer elsewhere, so it is desperate," and "I wrote it on the fence in case people who come looking for Watch Alley without knowing about the demolition call."

Park Man-bong (70), who operated Ilyangsa in Yeji-dong for over 40 years, also moved to the Euljiro underground shopping center in December last year. Park also wrote new store information on the construction fence. He said, "Regular customers who have come for a long time still come, but this place needs to be known and promoted to new customers as well," adding, "In the past, people came basically because it was a watch alley, but here there are limitations."

Redevelopment of the Sewoon district is a familiar issue among nearby merchants. Previously, Seoul Mayor Oh Se-hoon designated Sewoon district redevelopment as his first campaign pledge after taking office in 2006. However, former Mayor Park Won-soon canceled the development plan in 2014 and shifted the policy to urban regeneration.

Then, with the re-election of Mayor Oh Se-hoon last year, the long-delayed Sewoon district redevelopment gained momentum. Park explained, "Some people relocated 10 years ago when redevelopment was announced," and "Those who stayed until the end scattered because there was no other way."

Some voices express concern that the disappearance of Watch Alley means the collapse of the industrial ecosystem. There is worry that the interconnected urban manufacturing industry is being shaken.

Oh, who runs Myeongseong Rolex, said, "The infrastructure is well established, so it is easy to obtain parts nearby," and "Because we can entrust specialized people, we cannot move elsewhere."

Consumers feel the same. Choi Seung-gyu (55), who operated a watch repair shop in Yeji-dong for 30 years and moved to Gwangjang Market in June last year, said, "Yeji-dong was the mecca of watches in Korea, and if it disappears, customers will be inconvenienced," explaining, "It is convenient for ordinary people to entrust us with battery replacements or glass repairs."

Many watch alley merchants who relocated elsewhere find it difficult to maintain their livelihoods due to low stability. Oh Jong-jin, who won a bid conducted by Seoul City, was guaranteed the right to operate a store in the underground shopping center for five years. However, it is uncertain whether he can continue after five years. Oh said, "The five-year contract is good, but we don't know what to do in the future," and "We were forced out and came here, but we are anxious about being forced out again after five years."

Demolition work is underway for redevelopment in Sewoon 4 District, Jongno-gu, Seoul.
Photo by Intern Reporter Kim Gunchan kgc6008@asiae.co.kr

Those in even more difficult situations are street vendors. Watch technicians, street vendors, and middlemen formed an organic relationship, creating an ecosystem in Watch Alley. Park Sang-woo (78), who operated a street vendor business in Watch Alley for 40 years and obtained a replacement store on the second floor of Sewoon Square in June last year, said, "Store merchants received a lot of compensation, but we did not get much," and "There used to be 50 street vendors in Watch Alley, but since the promised electricity was cut off, street vendors do not come out."

Meanwhile, the relocated street vendors currently operate stores near the first floor of Sewoon Shopping Center. About 50 people used to operate street vendor businesses in Watch Alley, but now fewer than 10 merchants remain.