Regional Economic Survey Shows 85% Positive Rating from Mapo Residents Contrasting with Decline in Korea Consumer Sentiment Index
From Tailored Policies for Mapo's 11 Major Commercial Districts to Special Financial Guarantees Supporting Small Business Owners
Seoul Mapo-gu (District Mayor Park Gang-su) announced that 85% of respondents positively evaluated the activation of the local economy in Mapo-gu according to a public opinion survey conducted in December 2024 to revitalize the regional economy.
This survey was conducted over two days from December 22 to 23, targeting 800 Mapo-gu residents to diagnose the local economic situation and explore revitalization measures amid economic recession and political instability.
According to the survey results, 79.3% of respondents positively evaluated the revitalization of neighborhood commercial districts. This figure is 6.5 percentage points higher than the 72.8% recorded in the same survey conducted in May last year.
Additionally, the most important factor for regional economic revitalization was identified as ‘support for small business owners and self-employed’ (31.9%), and the main consumption areas were Gongdeok-dong and Dohwa-dong (30.7%).
The primary consumption sectors were overwhelmingly restaurants and cafes (76.5%), and the most frequently cited improvement needed to boost consumption was ‘improvement of parking and transportation convenience’ (36.6%).
Notably, these survey results contrast with the Korea Consumer Sentiment Index (CCSI), which dropped by 12.3 points to 88.4 nationwide in December 2024, indicating a contraction in consumer sentiment, thereby highlighting Mapo-gu’s commercial district revitalization policies.
The Consumer Sentiment Index is an indicator reflecting consumer sentiment about economic prospects; a value above 100 is interpreted as optimistic, while below 100 is pessimistic.
To invigorate local commercial districts affected by the economic downturn, Mapo-gu has selected the ‘Mapo 11 Major Commercial Districts’ reflecting local characteristics and is implementing customized revitalization policies.
The Mapo 11 Major Commercial Districts include Ahyeon Market, Dohwa Flower Road, Yonggang Matgil, Yeomni Daeheung Forest Road, Red Road, Sky Road, Sangam Matgil, Yeonnam Kkirikkiri Road, Mangwon World Cup Market & Bangulnae Road, Mangwon Market & Mangridan-gil, and Seongsan Culture Road.
The district has created themed streets such as ▲Red Road ▲Hapjeong-dong Sky Road ▲Yeonnam-dong Kkirikkiri Road to attract foot traffic, developed brands and content that highlight the uniqueness of each commercial district, and held various events such as the Red Road Festival, Sky Road Festa, and Neighborhood Commercial District Boom Festival consecutively.
Furthermore, to prevent gentrification and protect tenant rights, a Fair Trade Consultation Center for commercial lease fees is operated, and various support policies such as special guarantees for small business financial support are implemented to strengthen the local economic foundation.
As a result of these efforts, the Red Road commercial district recorded about 130,000 foreign visitors in November 2023, approximately four times the number in March, and the Hongdae commercial district was selected as the dining area most visited by people in their 20s on weekends according to a Shinhan Card Big Data Research Institute survey.
The district stated that it plans to actively utilize the results of this public opinion survey in establishing policies to revitalize the local economy.
Park Gang-su, Mayor of Mapo-gu, said, “The positive evaluation confirmed through this survey is a valuable achievement made together by local residents and commercial districts,” and added, “We will continue to make greater efforts for sustainable regional economic revitalization.”
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