The Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) announced on the 23rd that it has finally selected two teams for 'Global Commercial District Creation' and six teams for 'Local Brand Creation' to vitalize the local economy through commercial district planning led by local creators.
The 'Global Commercial District Creation Project' is a project that aims to attract domestic and international floating population to alley commercial districts by combining various spaces and contents such as cluster spaces, residence spaces, and gathering spaces in alley commercial districts, centered around local creators.
We plan to support the fostering of anchor stores in alleyway commercial districts and jointly support local governments to create an autonomous commercial district management model that prevents gentrification through collaboration with various stakeholders in the alleyway commercial districts, such as local residents and building owners.
Two teams, including Seoul Jongno-gu (representative company Urban Play Co., Ltd.) and Daejeon Jung-gu (representative company Wing Wing Co., Ltd.), were selected for the 'Global Commercial District Creation Team' and will receive up to 15.5 billion won in support from the Ministry of SMEs and Startups and local governments over five years.
The 'Local Brand Creation Project' is a project where local creators collaborate with local small business owners to brand alleyways by incorporating regional identity into them, and to support the discovery and realization of startup items for local youth.
The 'Local Brand Creation Team' selected include Seocho-gu, Seoul (representative company Move Culture Co., Ltd.), Buyeo-gun, Chungcheongnam-do (representative company Segan Co., Ltd.), Gimje-si, Jeollabuk-do (representative company Celesta Co., Ltd.), Naju-si, Jeollanam-do (representative company Naju Cooperative Chamber of Commerce), Yeongdeok-gun, Gyeongsangbuk-do (representative company Chobless Co., Ltd.), and Jeju-si, Jeju-do (representative company Illowa Co., Ltd.).
The Ministry of SMEs and Startups will support small business start-up and innovation programs, education and consulting, joint branding and product development, etc., and local governments will support up to 1 billion won over two years for planning and operating festivals linked to commercial districts and building local infrastructure.
In addition, to ensure the success of the global commercial district and local brand creation project, we plan to hold workshops for autonomous expansion and solidarity among representative companies and local members, and operate a group of professional mentors.
Lee Dae-geon, the director of the Small Business Policy Bureau, emphasized that “the global commercial district and local brand creation project is a new type of commercial district revitalization policy that goes beyond alleyway commercial districts to create a global city by focusing on local creators and cooperating with merchants, residents, and regions.” He added that “by turning alleyway commercial districts into commercial districts that people from all over the world seek out and stay in, we will prevent regional extinction and expand the domestic market.”
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