Why Park Jun-hee, Gwanak District Mayor, Is Passionate About Revitalizing the Local Economy Through Gwanak S Valley Development and Traditional Market Activation?

Gwanak S Valley Area of Approximately 2.44 Million ㎡ Selected as 'Gwanak S Valley R&D Venture & Startup Special Development Promotion Zone'... Integrated Event to Promote Alley Commercial District Use Including Store Turnaround Management Support and Coupon Issuance to Revitalize Alley Commercial Districts

Park Jun-hee, the mayor of Gwanak-gu, is originally from Wando, Jeollanam-do, and is known to have operated a small shop in Seoul after graduating from high school in his hometown.

Perhaps because of this background, Mayor Park shows a special interest and passion for supporting small business owners and revitalizing local commercial districts.

Having served as a member of the Gwanak District Council and the Seoul Metropolitan Council, he is currently serving as the mayor of Gwanak-gu for the 7th and 8th elected terms, continuing efforts to revitalize local market districts, including the establishment of Gwanak Venture Valley.

Park Jun-hee, the mayor of Gwanak-gu, is having a conversation with a senior safety guardian.

Mayor Park Jun-hee Accelerates the Creation and Revitalization of Gwanak S Valley

Approximately 2.44 million square meters around the Gwanak S Valley area were selected last month as the target site for the ‘Gwanak S Valley R&D Venture and Startup Special Development Promotion District.’

The Gwanak S Valley project, initiated in 2018, is completely transforming the map of Gwanak-gu.

So far, Gwanak S Valley has established 17 startup infrastructure facilities, housing 138 startup companies that are growing by developing their capabilities in various fields.

With two main hubs?‘Nakseong Venture Valley’ around Nakseongdae and ‘Sillim Startup Valley’ centered in Daehak-dong?an innovative economic ecosystem leading venture startups has been created. Thanks to these changes, in 2022, the Ministry of SMEs and Startups designated the area as a ‘Venture Business Promotion District.’

In particular, the recent selection of the ‘Gwanak S Valley R&D Venture and Startup Special Development Promotion District’ is expected to be an important turning point for Gwanak-gu to firmly establish itself as a hub for youth startups and technological innovation.

Since 2023, the district office has actively consulted with the Seoul Metropolitan Government to designate Gwanak S Valley as a special development promotion district. The application for site selection was submitted in July, and on October 7, it passed Seoul’s review, confirming the site selection.

The designation of a special development promotion district goes beyond simple industrial promotion, laying the foundation for continuous growth and innovation through the agglomeration of technology-based startup companies in research and development (R&D), information and communication technology (ICT), and other fields.

Once the ‘Gwanak S Valley R&D Venture and Startup Special Development Promotion District’ is officially designated, various urban planning benefits such as differential relaxation of building coverage ratio, floor area ratio, and building height will be provided according to the recommended industry introduction ratio.

Going forward, the district office plans to establish a detailed promotion plan and proceed step-by-step through continuous consultations with the Seoul Metropolitan Government to achieve final designation.

With this site selection as a milestone, Gwanak-gu is expected to take a leap forward as a leading city in South Korea’s startup ecosystem, leading youth entrepreneurship and technological innovation as an advanced industrial cluster. Mayor Park Jun-hee said, “Gwanak S Valley is now reborn as a startup city where young people dreaming of entrepreneurship and companies pursuing technological innovation gather,” adding, “We will continue to provide various opportunities for innovative companies to grow and do our best to establish Gwanak-gu as a core hub of South Korea’s startup ecosystem.”

Store Turnaround Management Support to Revitalize Traditional Markets

Gwanak-gu is promoting the ‘Traditional Market Store Turnaround Management Support Project’ to assist small business owners in traditional markets and alleyway shopping districts who are struggling due to the economic downturn.

The ‘Turnaround Management Support Project’ provides both management consulting and facility improvements for small business stores in traditional markets and alleyway shopping districts.

Since 2022, the district office has been implementing this project to strengthen the overall competitiveness and vitality of not only individual struggling stores but also entire traditional markets and alleyway shopping districts.

Selected stores receive customized consulting covering all aspects of management such as marketing, customer management, and store operations. Based on the consulting results and store-specific needs, support is also provided to improve the business environment by renovating outdated store facilities.

This year, a total project budget of 122 million KRW will be invested to support 40 stores with management consulting and facility improvements worth approximately 2 million KRW per store.

Additionally, among the supported stores, 10 will be selected for a pilot project to receive additional support for creating QR-mobile pages, expanding their online sales channels.

The application period is until November 10, and eligible applicants are small business stores in traditional markets and alleyway shopping districts within the district.

The district office will conduct document reviews by a screening committee regarding overall management status such as opening year and sales, and will individually notify the final selection results in November.

‘Alleyway Commercial District Usage Promotion Integrated Event’ Underway

Alongside this, Gwanak-gu is launching the ‘Alleyway Commercial District Usage Promotion Integrated Event’ with small business owners to revive the local commercial districts that have been stagnant due to high inflation.

The district office has prepared discount and prize benefit events for customers using seven designated alleyway commercial districts.

The ‘Gwanak-gu Alleyway Commercial District Usage Promotion Integrated Discount Event’ is a project jointly promoted by the district office and alleyway commercial district merchant associations to revitalize alleyway commercial districts and increase sales in shopping districts, which have recently been struggling due to weakened domestic consumption.

On November 5 and 6, the district office plans to distribute coupons worth 5,000 KRW, which can be used like cash at stores within the alleyway commercial districts, to reduce the burden on local residents when using the commercial districts. Upon receiving the coupon, customers will be automatically entered into a prize draw event for additional benefits.

The coupons can be used at participating stores in seven alleyway commercial districts in Gwanak-gu (▲Seorim-dong ‘Seorim Dabok-gil’, ▲Sillim-dong ‘Byeolbit Street’, ▲Boramae-dong ‘Borabit Street’, ▲Jungang-dong ‘Jeongjungang-gil’, ▲Cheongnyong-dong ‘Purumireu-gil’, ▲Jowon-dong ‘Daechu Chorong Jowon Bok-gil’, ▲Daehak-dong ‘Nokdu Street’). Customers need to present the coupon when using the stores.

Coupons are valid for use for three weeks from November 5 to 30, and up to two coupons can be used per store.

Mayor Park Jun-hee said, “I hope this event will bring vitality back to the stagnant alleyway commercial districts and inspire hope for small business owners,” adding, “We will continue to make every effort to establish a sustainable growth foundation for alleyway commercial districts and revitalize the local economy in ways that merchants and residents can feel.”