The city of Busan plans to invest 13.4 billion won in revitalizing traditional markets and shopping districts, including 7.1 billion won secured from national funds.
The initiative, part of the 2025 Traditional Market and Shopping District Revitalization Support Project by the Ministry of SMEs and Startups, aims to boost struggling commercial areas through infrastructure improvements, cultural tourism integration, and specialized market development.
As part of this effort, 31 traditional markets and shopping districts will benefit from a 3 billion won investment, with 1.9 billion won coming from national funds.
The project will foster specialized markets, such as cultural tourism-type markets, market management support programs, and local product exhibitions.
Seo-gu Chungmu-dong Dawn and Coastal Market and Suyeong-gu Mangmi Central Market have been selected as cultural tourism-type markets, receiving two years of support to integrate local cultural and tourism elements, making them interactive spaces for residents and tourists.
Additionally, Suyeong-gu Namcheon Beach Market will receive funding for infrastructure development, helping it transition into a cultural tourism hub.
A 400 million won investment, including 200 million won in national funds, has been allocated for the 2025 Traditional Market Parking Environment Improvement Project.
This initiative will enhance accessibility by renovating aging public parking facilities at six locations, including Motgol Alley Market in Nam-gu, Yangjeong Market in Busanjin-gu, Changseon Shopping Center in Jung-gu, Busan Nammun Market, Busanjin Market, and Choryang Traditional Market in Dong-gu.
Busan is also focusing on commercial district revitalization, with a 10 billion won investment to develop Dong-gu’s Choryang-iim Autonomous Commercial District and Nam-gu’s Yunnam-gu Daehak-ro Autonomous Commercial District.
These areas were selected through a public contest in April 2024 and will receive funding for environmental upgrades, product development, and branding to establish them as leading commercial hubs in the region.
