Establishing a Local Hub for Youth Entrepreneurship and Commercial Revitalization in the Traditional Market District
Geochang County in South Gyeongsang Province announced on December 24 that its “Geochang County Traditional Market District Urban Regeneration Project” has been selected as the final winner in the Ministry of Land, Infrastructure and Transport’s 2025 Regional Specialized Regeneration Project competition, which was open to local governments nationwide.
With this selection, Geochang County has secured a total of 25 billion KRW in seed funding, including 15 billion KRW from the national government, 2 billion KRW from the provincial government, and 8 billion KRW from the county budget. A large-scale regeneration project aimed at revitalizing the traditional market and the core commercial district of the old downtown is now set to move forward in earnest.
Although the Geochang Traditional Market District is home to administrative institutions such as the county office and police station, as well as a concentration of cultural, medical, and commercial facilities, the area has continued to experience various local issues, including population decline and commercial stagnation. This has led to a persistent call for urban regeneration efforts.
Geochang County Selected for Ministry of Land, Infrastructure and Transport's Traditional Market Urban Regeneration Project Worth 25 Billion KRW Group Photo.
In response, Geochang County began developing an urban regeneration activation plan for the traditional market district in December 2024. The county has conducted a detailed survey of the local situation and continuously sought expert advice to enhance the feasibility and completeness of the plan. In particular, the county widely gathered residents’ opinions through urban regeneration workshops, benchmarking visits, surveys, community meetings, and public hearings.
Following the selection, from 2026 to 2029, the county will establish a local vitality hub in the traditional market district that will be jointly used by young people, merchants, and residents. As a first step, Geochang will build the “Geochang Local Community Hub,” a multi-purpose center integrating spaces for youth entrepreneurship support, community facilities, and functions for creation, education, and cultural exchange. This will invigorate the local youth entrepreneurship ecosystem and expand the foundation for resident communication.
Additionally, the county plans to create the “Geochang Creator Salon” by utilizing idle buildings, providing spaces for entrepreneurship and cultural experiences, as well as shared housing for entrepreneurs, thereby supporting the settlement of local startups and attracting more tourists. Alongside this, the “Geochang Story Avenue” will be established, featuring a startup-specialized street utilizing vacant stores, a night market, a local food market, and a flea market, all as part of programs to revitalize the area’s commercial activity both day and night.
Furthermore, three tourist bus drop-off and pick-up points will be installed within the traditional market district. This is expected to draw approximately 6.5 million annual visitors-who come to major tourist destinations across Geochang County such as the Anti-Aging Healing Land, Suseungdae, Geochang Changpowon, and Forest Leisure Sports Park-into the traditional market, promoting longer stays and consumption, and fostering the sustainable revitalization of both the traditional market and the old downtown commercial area.
Geochang County Mayor Ku Inmo stated, “This selection is a meaningful achievement jointly created by the residents, local merchants, and youth of Geochang County. Through the traditional market district urban regeneration project, I hope to restore commercial vitality, encourage young people to settle, and bring about changes that improve the quality of life for our residents.”
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