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| Horses parade through the streets of Yangjae Market in southern Seoul's Seocho District, during the Seoripul Festival Maljukgeori Party in September 2018. The annual festival is held to promote the market and street businesses around Yangjae-dong's Maljukgeori neighborhood. Newsis |
Popular district hotspots selected for 3-year city subsidies
By Ko Dong-hwan
With almost 10 million people living in 25 different districts and the Han River through the middle, Seoul offers more than even most locals who spend a considerable amount of time have time to see for themselves.
That could be a problem for the city government. With not enough local signature hotspots standing out that could draw visitors willing to open their wallets, tourism could eventually dwindle and stores close down.
Globally famed go-to spots like Lotte World Tower in Jamsil or night-life areas in Gangnam may keep thriving, but it's the smaller, lesser-known locales throughout the city that struggle to be known.
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| An alley in central Seoul's Itaewon neighborhood is crowded with visitors, Oct. 28, 2022. Itaewon, following years of economic downturn during the pandemic and a fatal crowd crush disaster in October 2022, has been selected by the city government to receive city funding to revitalize its local commerce. Yonhap |
To make the commercial zones across the city more attractive to visitors from around the country and the world, the city government has unveiled a new initiative to nurture five locales.
The five areas are Seochon, Itaewon, Suyu, Sinchon and Cheonho, each of which boasts a sizable amount of commerce, with local businesses numbering between 200 and 1,500. The city government has set aside additional funds for each zone to improve them further, according to the Commercial District Development Division under the city government's Labor and Fairness Policy Bureau.
"The latest initiative will bring concentrated support to the Seoul alleys so that not just locals but also tourists from overseas will invest time and money to visit," said Park Jae-yong, an official from the Labor and Fairness Policy Bureau. "Those street commerce zones will be the city's symbolic local economies that flaunt Seoul's unique attractions."
The "glocalization" project ― blending "global" and "localization" ― runs for three years starting this year. Each zone will receive up to 1.5 billion won ($1.14 million) from the city government throughout the period to identify and develop its unique draw and further vitalize its market.
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| At a Japanese house-style restaurant in Suyu-dong in northern Seoul, the shop owner shows off his food in this January 2018 photo. Korea Times file |
The city government will manage the project zones so that any new business that is "out of color" with the local setting will be prevented from opening there, in an attempt to preserve and sustain the uniqueness of each area. Any signs of gentrification will also prompt the city government to step in and slow down real estate price hikes.
The project will be largely driven by non-government entities, including local entrepreneurs and residents who will form a commerce organizing committee for each area. Local district offices will also participate.
Seochon, with its cluster of one-of-a-kind stores next to central Seoul's Gyeongbok Palace, the main royal palace of the 1392-1910 Joseon Kingdom, still receives a high volume of visitors. But, according to the city government, it is currently suffering from gentrification in several parts as well as loosened ties amongst business operators.
The city government is looking to work closely with local entrepreneurs and landlords during the next three years, aiming to improve mutual understanding to stabilize the business environment and introduce unique content.
Itaewon, devastated by a fatal crowd crush disaster last October that killed 159 people including at least 26 foreigners, is aiming to restore its vibe with the support of the city government. The area in Yongsan District holds symbolic fame among foreign tourists ― and the city government wishes to keep it that way. The efforts will include the introduction of "smart digital streets" realized by 3D mapping to help visitors navigate the area more easily.
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| A worker at an LP cafe in downtown Seoul's Seochon arranges a shelf in this October 2016 photo. Korea Times file |
Suyu-dong is the city's emerging hotspot with increasing visits from the MZ Generation. What is drawing them the most is the clever use of space and structures in the streets, breathing an experimental yet fresh atmosphere in northern Seoul's Gangbuk District.
While local TV, YouTube and large-scale concert halls are dominated by K-pop stars with daunting global fandoms and hit songs, artists and fans of the country's underground music scene have been opting for live music venues around Sinchon.
But the area is not what it used to be, according to the city government. By bringing back previous fans loyal to the western Seoul spot as well as inviting younger newcomers, Sinchon is about to take a new step in becoming the city's music performance mecca once again.
Cheonho Bicycle Street, with just over 200 stores registered, is the nation's lone bicycle-specialized street that is dedicated to cyclists. Through the project, the city government's goal is to develop the street's commerce and spread the buzz around the world.
