Yeongju City Approves Self-Governing Commercial District Designation for Yeongjuro Commercial Area

Vitalizing the Old Downtown Commercial District
Up to 10 Billion KRW in Support

Yeongju City announced that on March 26, at the deliberation of the Gyeongsangbuk-do Regional Commercial District Committee, the 'Yeongjuro Commercial District' (Yeongjuro area) in Yeongju 1-dong was finally approved as an Autonomous Commercial Zone.

The Autonomous Commercial Zone is a designated area under the 'Act on the Coexistence and Revitalization of Regional Commercial Districts (Regional Commercial District Act)' to revitalize stagnant old downtown commercial districts.

The requirements for designation include: △ the commercial area must account for more than 50% of the total area △ there must be at least 100 stores, excluding vacant ones △ at least two out of the number of businesses, sales volume, and population must have been continuously declining. In addition, more than two-thirds consent from merchants, landlords, and landowners, as well as the conclusion of a coexistence agreement, are essential requirements.

To designate the Autonomous Commercial Zone, the city conducted a 'Service for Establishing the Comprehensive Plan for Autonomous Commercial Zone Designation and Commercial District Revitalization' to review the current status of the commercial district and whether designation requirements were met, and developed a revitalization strategy reflecting local characteristics. Accordingly, a preparatory committee was formed in December 2024, the Autonomous Commercial Zone Association was established in February 2025, and the application for designation approval was submitted to Gyeongsangbuk-do in March.

Once designated as an Autonomous Commercial Zone, special benefits such as Onnuri Gift Certificate franchise registration are granted, and the district is eligible to participate in the 'Commercial District Revitalization Project,' which provides up to 10 billion KRW over five years through the establishment of a mid- to long-term development plan.

Kim Wonseop, Head of the Job and Economy Division, said, "With the designation of this Autonomous Commercial Zone, we will establish mid- to long-term strategies that not only restore the old downtown commercial district but also leverage Yeongju's unique assets, such as the historical value of modern cultural heritage and distinctive local cuisine," adding, "We will do our utmost to create a sustainable commercial district ecosystem."

Yeongju City Yeongjuro Commercial District.