"This Place Has a Unique Vibe"... Foreigners and the MZ Generation Become Market Enthusiasts Following Celebrities and YouTubers [Hot Place Road] ③

"Mangwon Market for Dakgangjeong, Gwangjang Market for Bindaetteok"
Sinheung Market: From Refugee Settlement to a Playground for the 20s and 30s

On the morning of June 30th last month, Mangwon Market in Mapo-gu, Seoul, was bustling with foreign tourists enjoying street food. Katja (25), who said she was from Germany, commented, "I came after seeing it on social media. The food is delicious and there is so much to see, so it's really fun."

On June 30th last month, we visited Sinheung Market in Haebangchon, Yongsan-gu, Seoul. People are eating food. Photo by Youngchan Choi

Traditional markets across Seoul are attracting a steady stream of young people and foreign tourists. As more traditional markets are reinventing themselves to highlight their unique characteristics while targeting the MZ generation (Millennials and Generation Z), they are becoming 'cultural industries.'

"Mangwon Market for Dakgangjeong, Gwangjang Market for Bindaetteok"

According to the Seoul Commercial District Analysis Service, people in their 20s and 30s account for 43.3% of food service sales at Mangwon Market. Not only Mangwon Market, but traditional markets nationwide are showing a growth trend in sales. According to statistics from the Small Enterprise and Market Service, the average daily sales at traditional markets increased by 19%, from 57.49 million won in 2019 to 68.43 million won in 2023.

Visitors lined up in front of the twisted doughnut shop at the entrance of the food alley in Gwangjang Market. Photo by Lee Eunseo.

The younger generation is captivated by the sights and experiences offered by traditional markets. In a survey conducted by market research firm Embrain Trend Monitor of 1,000 adult men and women living in the Seoul metropolitan area, over 30% of respondents in their 20s and 30s said their main reason for visiting traditional markets was to visit tourist attractions.

People crowding at the Starbucks remodeled from an old theater inside Gyeongdong Market. Photo by Lee Eunseo.

Traditional markets that attract young people each have their own specialties. Mangwon Market is known for its Dakgangjeong (sweet crispy fried chicken) and chili fritters, while Gwangjang Market is famous for Bindaetteok (mung bean pancakes) and Yukhoe (beef tartare). Gyeongdong Market is a world-renowned market for herbal medicine ingredients. Young people and foreigners visit traditional markets to enjoy food and the local atmosphere.

Rena (21), a tourist from Japan whom we met at Gwangjang Market, said, "I came after watching a Japanese YouTuber's vlog about Gwangjang Market. The Korean market and food felt fresh and I wanted to experience it for myself." Iris (25), a tourist from Hong Kong, also commented, "The tteokbokki sauce and broth, which combine spicy and sweet flavors, are unique. I also tried nakjitangtangi (live octopus) and yukhoe."

Gyeongdong Market offers foreigners a distinctly Korean experience. Ruriko (29), a tourist from Japan, said, "It's interesting to observe the unique lifestyle of Korean people, and it's new to see such a large market selling herbal medicine, meat, and fish all in one place. I'm very interested in health, so I plan to buy the famous ginseng jelly at Gyeongdong Market."

Young people lining up at a fried chicken restaurant featured on a celebrity YouTube channel in the Kyungdong Market Fried Chicken Street during the evening. Photo by Lee Eunseo.

Strategies to revitalize old spaces, such as bringing in Starbucks, are also attracting younger generations. At the end of 2022, Gyeongdong Market remodeled a 60-year-old abandoned theater inside the market and opened a Starbucks. Kim Daseon (32), whom we met at Gyeongdong Market, said, "The fact that the theater was remodeled means the space is large and the ceilings are high, which is a highlight." In May, Gwangjang Market also opened a Starbucks in an annex building that had become vacant after hanbok and fabric shops left. Ko Mihye (38), whom we met at the Gwangjang Market Starbucks, said, "Even though it's inside a market, it's modern and has signature menu items, which makes it unique."

Long-established restaurants and famous eateries that coexist with modern culture appeal to the retro sensibilities of the younger generation. They visit well-known market restaurants featured on YouTube and social media. The fried chicken restaurant in Gyeongdong Market has become increasingly popular after being featured on a celebrity YouTube channel, and the fried dumplings are widely talked about on social media for their taste and affordable price. Kim Hyoyeon (32) said, "I enjoy seeking out old-fashioned places for the fun of experiencing something retro. Unlike other markets, this one still has a local vibe and a strong retro atmosphere."

Lee Youngae, a professor in the Department of Consumer Science at Incheon National University, said, "This trend reflects the desire of foreign tourists to experience Korean culture and the curiosity of young people who want to directly experience retro elements they haven't encountered before. Policies that have improved the environment and convenience of traditional markets and successfully discovered unique markets in each region have also played a role."

From a Refugee Settlement to a Playground for the 20s and 30s: The Rise of Sinheung Market

"Get off at the back door, not the front!"

On the evening of July 10th, as the 'Yongsan 02' bus arrived at the Haebangchon Five-Way Intersection stop near Noksapyeong Station in Seoul, most passengers got off together. Their destination was Sinheung Market in Haebangchon, just a minute from the bus stop. The foreign owner of a Thai restaurant in Sinheung Market said, "There are no empty seats today." It was easy to spot restaurants with lines of waiting customers.

Sinheung Market opened in 1953 and was originally a settlement for refugees. After experiencing a decline in commercial activity since the 1990s, it has now transformed into a playground for people in their 20s and 30s.

On June 30th last month, we visited Sinheung Market in Haebangchon, Yongsan-gu, Seoul. People are lining up or taking photos. Photo by Youngchan Choi

According to the Seoul Commercial District Analysis Service, the average monthly sales per store at Sinheung Market increased from 4.75 million won in the first quarter of 2023 to 6.86 million won in the first quarter of this year. Recently, it has become such a hot spot that it even collaborated with Coca-Cola.

Sinheung Market is located in the center of a neighborhood currently undergoing resident consent procedures for redevelopment. However, the atmosphere inside the market is completely different from the rest of the neighborhood. Under the arched roof, exotic restaurants abound, and people are everywhere taking photos, sitting at outdoor tables, and enjoying drinks and food.

Rather than selling vegetables, fish, and other food ingredients or street food, Sinheung Market is packed with restaurants that cater to the tastes of young people. Although it is not a traditional market in the classic sense, it has revived the commercial district by keeping up with trends.

Market insiders analyze that the 'Yongsan Liberation Festival' held in 2023 served as the catalyst for the current popularity. Hong Seungjin, vice president of the Sinheung Market Merchants Association, said, "The festival was the turning point when people started to notice this place. Except for Mondays and Tuesdays, when many shops are closed, the market is always bustling with customers."

The transformation of Sinheung Market was also greatly aided by Seoul City's urban regeneration project. Architects who won a competition for the project designed the current transparent arched roof, dramatically changing the atmosphere of the aging market. Lee Heejeong, a professor in the Department of Urban Engineering at the University of Seoul, said, "When rents rose due to gentrification on Gyeongridan-gil, commercial districts spread to the surrounding areas, and Sinheung Market is one of them. The strategy of remodeling and creative space planning to spark people's interest was highly effective."