Gangwon Secures 1.38 Billion Won in National Funding for 2026
Revitalization Expected for Gangneung Myeongju-dong and Nammun-dong, Taebaek Samsudong, and Hongcheon Sinjangdaeri Commercial Districts
Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on September 16 that Gangneung City, Taebaek City, and Hongcheon County have been selected for the Ministry of SMEs and Startups' 2026 "Commercial District Revitalization Project" contest, and that 1.38 billion won in national funding has been included in next year's government budget proposal.
The Commercial District Revitalization Project is a multi-year initiative to be implemented over five years. With this selection, a total of 19.6 billion won (9.8 billion won in national funding) will be secured for the three cities and counties from 2026 to 2030, enabling comprehensive support for the revitalization of declining commercial districts.
In Gangneung, a project budget of 7 billion won (3.5 billion won in national funding, 1.055 billion won in provincial funding, and 2.45 billion won in city funding) will be invested to restore an attractive commercial district with a cultural narrative, utilizing historical assets such as the Daedohobu Government Office and Japanese-style houses in the Myeongju-dong and Nammun-dong areas, which have long served as administrative centers.
In Taebaek, a project budget of 6 billion won (3 billion won in national funding, 900 million won in provincial funding, and 2.1 billion won in city funding) will be invested to connect the stagnant Samsudong Food Street with major tourist attractions such as Hwangji Pond and Taebaeksan National Park, and to develop it into a stay-type tourism commercial district by adding cultural content.
In Hongcheon, a project budget of 6.6 billion won (3.3 billion won in national funding, 1 billion won in provincial funding, and 2.3 billion won in county funding) will be invested to develop and market the "Hongmaek" joint brand, maximizing the advantage of having the nation's largest beer factory, craft beer breweries, and a beer experience village, and to create a themed street.
The three cities and counties selected this time have systematically prepared blueprints for the Commercial District Revitalization Project by carrying out the "Neighborhood Commercial District Development Support Project" contest by the Ministry of SMEs and Startups in 2023 and 2024.
The "Neighborhood Commercial District Development Support Project" is a preliminary stage for the Commercial District Revitalization Project, in which local creators, local governments, merchants, and residents collaborate to identify problems in neighborhood commercial districts, establish their identities, and formulate development strategies.
This Commercial District Revitalization Project aims not only to restore stagnant commercial districts but also to revitalize the local economy by creating jobs and preventing population outflow. Furthermore, it is expected to contribute to the achievement of long-term regional visions by creating community-centered spaces that embody local culture and identity, rather than merely serving as consumption spaces.
Kim Man-ho, Director of Economy at Gangwon Special Self-Governing Province, stated, "Through the expansion of the Commercial District Revitalization Project to three locations in 2026, we will actively support the resurgence of declining commercial districts and the creation of sustainable commercial district models that reflect the unique culture and characteristics of each region."
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