Heungguk Market in Yeosu Selected for Ministry of SMEs and Startups' "Cultural Tourism Market Development Project"

Revitalizing Traditional Markets and Shopping Districts: 1 Billion KRW Investment Over Two Years
Creating a Cultural Complex Space with Specialized Events and Cultural Content

On September 2, Yeosu City in South Jeolla Province (Mayor Jung Kimyung) announced that Heungguk Market, the city's leading shopping district, has been selected for the "Cultural Tourism Market Development Project," which is part of the Ministry of SMEs and Startups' 2025 public contest to revitalize traditional markets and shopping districts. The city will now move forward with the project in earnest.

The "Cultural Tourism Market Development Project" aims to transform markets into unique tourism destinations by combining the market's own resources with local history, culture, and tourism assets. Over the next two years, Heungguk Market will receive up to 1 billion KRW in combined national and city funding.

Yeosu Heungguk Shopping Center has been selected for the "Cultural Tourism Market Development Project" and will receive up to 1 billion KRW in national and city funding combined over the next two years. Provided by Yeosu City

The main initiatives include specialized events such as "Reply Heungguk Market (1995)" and regular flea markets, the development of Heungguk Market's brand identity and character, youth cultural festivals, cultural experience classes, promotional marketing through local festival booths, merchant capacity-building programs such as the Merchant Academy, and infrastructure improvements like the installation of gobos and street lighting.

The head of the Heungguk Market Cultural Tourism Market Development Project Team stated, "With the project team and the merchants' association at the forefront, we will collaborate with Yeosu City, the Ministry of SMEs and Startups, and the Small Enterprise and Market Service to enhance Heungguk Market's competitiveness and further strengthen Yeosu's brand value."

A city official commented, "This project marks the first step in fostering Yeosu's flagship shopping district. By offering diverse attractions to citizens and tourists, it will inject new vitality into the local commercial area. We will actively support the project to help revitalize the local economy."

Meanwhile, the city plans to continue discovering and promoting various support projects and policies to strengthen the self-sufficiency of local small businesses, including traditional markets, shopping districts, and alleyway markets.