Since 2016, there has been an increase in traditional markets across the nation, but many have closed due to neglect in management after being established. Some have shifted their focus to delivery-based operations rather than attracting visitors, moving away from the original goal of revitalizing traditional markets, resulting in poor performance due to reduced accessibility and competitiveness. The budget for youth malls has also decreased since 2020. “Activation through local government leadership and tailored support,”,
The first floor food court of the youth mall ‘Cheongchun Sijeon’ in the market street in Jeonju, Jeollabuk-do visited on the 29th of last month. Despite it being lunchtime, the store is not open for business. Jeonju=Reporter Park Jeong-hyun,
, ‘[Seoul Economy] ‘,
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, ‘On the 29th of last month, in the market street of Jeonju, Jeollabuk-do. The youth mall ‘Cheongchun Sijeon’ opposite the market building was seen with the lights off even though lunchtime had just begun. A merchant in the market said, “In reality, only a few stores in the youth mall do proper business,” adding, “Even those places usually start business around 3-4 p.m., so they don’t open their doors in the morning,” he said.’,
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, ‘Since 2016, when the youth malls were established to support youth entrepreneurship and revitalize traditional markets, they have now turned into idle places due to government and local government neglect. After their establishment, they have been practically abandoned, causing a decline in interest from both the youth tenants and customers. As the support target diminishes, the budget is also reduced, creating a vicious cycle.’,
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, ‘According to data submitted by the Small Business Market Promotion Agency to lawmaker Kim Sung-won’s office, the budget for youth malls related activities has decreased for four consecutive years since 2020. Specifically, the budget that was 113.5 billion won in 2020 plummeted to 26.7 billion won this year, a 76.5% decrease. Especially, since 2021, the youth mall creation project has essentially been halted, and the budget has dropped to less than half.’,
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The entrance of the youth mall ‘Cheongchun Sijeon’ in the market street of Jeonju, Jeollabuk-do, visited on August 29th. Despite the noon hour, the door is locked. Jeonju=Reporter Park Jeong-hyun,
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, ‘The decreasing budget related to youth malls is analyzed to be due to poor performance. Out of the 43 youth malls established nationwide, the number decreased to 37 last year and 35 as of July this year. Some youth malls are facing high vacancy rates. In particular, in the case of local traditional markets, even if youth mall stores move out due to reasons such as expansion and closure, the vacancies are not quickly filled. There are only 1 at Jeonju’s Seobu Market, 1 at Jinju Central Market in Gyeongsangnam-do, and 3 at Yaryu Market in Daegu that are currently being operated.’,
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, ‘An official from Jeonju’s Seobu Market stated, “Since the youth mall plays a role in fostering young merchants, it is necessary for new places to continue to be occupied for its effectiveness,” adding, “In regions outside the capital, not only are there fewer young people, but there is also an increasing trend of youth mall tenants giving up due to demand shifting towards tourist attractions.” Mr. A, who runs a store at Cheongchun Sijeon, said, “It’s been about a year and a half since I opened here, and there hasn’t been any new store coming in after the cosmetics store on the 2nd floor left.”‘,
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, ‘The reasons for the poor performance of the youth malls, which were expected to serve as a source of vitality for traditional markets, include weak accessibility and recognition, decreased competitiveness of young merchants, lack of post-management and local government interest. Another official at Seobu Market said, “For the youth mall to be activated, it is important for both tourists and locals to visit, so factors such as environment and location are crucial,” explaining, “Cheongchun Sijeon has structural issues such as creating shop spaces by dividing a narrow area and being located away from the city center, making its location less favorable.” He added, “If young merchants have differentiated contents or unique items, promotion would be possible, but even that is lacking.”‘,
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, ‘Lawmaker Kim Sung-won pointed out, “The main reasons for the poor performance of youth malls are the lack of consumer population and the influx of tourists only during the establishment phase,” emphasizing, “It is important to provide spaces where young merchants can unfold their dreams, but what is needed is not short-term support but long-term support and measures.” He further stated, “A reassessment of the youth mall project is needed, along with strengthening support programs such as specialized education and consulting for young merchants, and creating youth malls tailored to the characteristics of the regions.”‘,
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, ‘In response, the Small Business Market Promotion Agency plans to encourage autonomous operation by local governments to revitalize the youth malls. They also plan to actively support the development of items and facilities to enhance the competitiveness of young merchants, as well as promotion. An official from the agency said, “When supporting revitalization projects, we will devise tailored strategies based on the characteristics and customer demand of each youth mall, and seek ways to enhance the self-reliance of individual stores,” adding, “Regions with a history of youth mall closures will be given disadvantages in the selection of support projects in the future, and the system will be improved to focus more on areas where local governments can pay attention.”‘,
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