Yeongju City Launches Full-Scale Revitalization of Five Traditional Markets... Green Light for Local Commercial Recovery

Selected for Ministry of SMEs and Startups Contest
A Total of 960 Million Won Invested in Culture and Tourism-Oriented Market and Management Support Projects

Yeongju City has launched a full-scale initiative to revitalize its stagnant traditional markets and shopping districts.

The city is implementing the "2026 Traditional Market and Shopping District Revitalization Support Project" to enhance the competitiveness of traditional markets and shopping areas and to invigorate the local economy as a whole. This project is part of a public contest organized by the Ministry of SMEs and Startups, aiming to foster traditional markets as local hubs for daily life and culture, thereby strengthening their self-sufficiency.

In this contest, Yeongju City achieved the result of having five traditional markets within its jurisdiction selected as final recipients. Notably, in the category of culture and tourism-oriented markets, both Seonbigol Traditional Market and the nearby alley market were jointly designated as target sites. The culture and tourism-oriented market project seeks to develop unique commercial districts by linking the region’s distinctive cultural and tourism resources with the markets. A total budget of 800 million won, including both national and local government funds, will be invested from 2026 to 2027. Through this initiative, Yeongju City plans to create attractive markets that will draw not only local residents but also tourists back to the area.

For the Market Management Support Project, four locations were selected: Punggi Seonbigol Ginseng Market, Punggi Native Ginseng Market, Punggi Red Ginseng Market Street, and Seonbigol Traditional Market. A total budget of 160 million won will be invested in this project, focusing on capacity-building programs such as merchant training and management consulting, to help merchants establish a foundation for sustainable growth on their own.

Jung Kyowan, Director of the Yeongju City Job and Economy Division, stated, "Through this project, we aim to transform traditional markets and shopping districts from simple consumption spaces into vibrant centers of daily life and culture where both local residents and tourists can gather." He added, "We will continue to communicate with merchants and implement revitalization policies that provide practical support on the ground."

In November of last year, Yeongju City also secured a total budget of 330 million won for two projects, including the 2026 Traditional Market Facility Renovation Project, and is simultaneously pursuing facility improvement projects to create a safer and more pleasant environment in traditional markets.