Four Traditional Markets in Gangbuk-gu Selected in Ministry of SMEs and Startups Contest... Secured 510 Million KRW Including National Funds

Suyujaerae, Jangmiwon Alley, Baeknyeon, Suyu Market Selected for Ministry of SMEs and Startups Traditional Market and Shopping District Revitalization Support Project... Accelerating Traditional Market Revitalization with Digital Traditional Market, First Step Foundation, and Market Management Package

Gangbuk-gu, Seoul (Mayor Lee Soon-hee) has secured a total of 510 million KRW, including national funds, after four traditional markets were selected in the Ministry of SMEs and Startups' '2024 Traditional Market and Shopping District Revitalization Support Project' competition.

The traditional markets in Gangbuk-gu selected in this government competition are Suyu Jerae, Jangmiwon Alley, Baeknyeon, and Suyu Market.

First, Suyu Jerae Market will receive 220 million KRW through the Digital Traditional Market and Market Management Package project. Jangmiwon Alley Market will be invested 200 million KRW as part of the First Step Foundation Project, while Baeknyeon Market and Suyu Market will each receive 45 million KRW through the Market Management Package project.

Suyu Jerae Market will receive comprehensive support through this competition project, including establishing online store entry and growth strategies and infrastructure support. By developing revenue models, discovering products, and conducting joint marketing, its online competitiveness will also be enhanced, contributing to the revitalization of the local economy.

Additionally, Jangmiwon Alley Market, selected for the First Step Foundation Project, plans to invigorate the market by creating a pleasant shopping environment through addressing the five core tasks of traditional markets: payment convenience, customer trust, hygiene and cleanliness, merchant capability, and safety management.

Baeknyeon Market, Suyu Market, and Suyu Jerae Market will strengthen their self-sustainability by having merchant associations lead joint marketing, online marketing, merchant education, and appointing market and delivery managers, establishing business plans that reflect the characteristics of each region and commercial district through the Market Management Package support project.

Lee Soon-hee, Mayor of Gangbuk-gu, said, "Congratulations on being selected for the government competition project. We will continue to actively support traditional markets and do our utmost to revitalize the local economy."