[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City, Jeonbuk Province, is promoting a ‘Commercial District Revitalization Project’ to restore the reputation of the deteriorated old downtown commercial district.
The city announced on the 3rd that it was finally selected for the 6th Commercial District Revitalization Project, a public contest by the Ministry of SMEs and Startups last November, and will invest a total project cost of 8 billion KRW over five years from this year to 2027 to revitalize the old downtown commercial district.
Jeongeup City is investing 8 billion KRW to promote the 'Jeongdaun Commercial District Revitalization Project' [Photo by Jeongeup City]
The Commercial District Revitalization Project is a project aimed at designating the deteriorated and declining old downtown commercial district as a ‘Commercial Revitalization Zone’ and inducing the revival of the commercial district by creating a distinctive commercial district through comprehensive support.
The city plans to designate the Saemgoeul Market, Jungang-ro, Saeam-gil, and Uam-ro shopping streets as revitalization zones and promote commercial environment improvement and revitalization projects.
To this end, the city will hire a town manager dedicated to the commercial district revitalization project and establish a commercial district revitalization organization (corporation) to carry out various commercial district revitalization tasks.
In addition, the organization will form a ‘Commercial Revitalization Council’ composed of commercial district revitalization experts, local merchants, and residents to ensure that major agendas promoted during the project period are in line with local realities through close communication and consultation.
The city expects that this project will have the effect of expanding infrastructure such as commercial district attractions and entertainment through market commercial district branding, establishing a sustainable commercial district foundation by strengthening merchant capabilities, and creating synergy effects with various linked projects.
It also anticipates that Saemgoeul Market and the surrounding shopping streets, which retain the city’s uniqueness, will be reborn with a modern sensibility, supplementing commercial district inflow factors and strengthening related historical and cultural content.
Mayor Lee Hak-su said, “With the hiring of the town manager completed, commercial district revitalization projects to improve the vitality of local merchants struggling due to the economic downturn are expected to be actively implemented,” and added, “I hope this project will restore the depressed commercial district and revitalize the local economy.”
Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil baekok@asiae.co.kr
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