Hwaseong Joaam and Osan Central Markets Undergo Modernization

Gyeonggi Province announced on the 12th that it will invest 23 billion won in facility modernization for 14 traditional markets across 10 municipalities this year.

The traditional markets undergoing modernization are located in eight areas across three regions in southern Gyeonggi: Anyang Central Market and Pyeongtaek Central Market, Hwaseong Joaam Market, Bucheon Hanshin and Jayoo Markets, Osan Central Market, Yongin Central Market, and Gunpo Station Market.

In the northern regions, there are six markets across three areas: Uijeongbu First Market, Produce Vegetable Market, and Green Street Shopping Center in Uijeongbu; First Market and Big Market in Dongducheon; and Gapyeong Market in Gapyeong.

Support will primarily focus on building basic infrastructure, including installing arcades and entrance roads so shoppers can shop comfortably regardless of snow or rain, and newly constructing or expanding parking lots.

Additionally, to strengthen promotion, the province plans to commission market activation research, develop unique market brands, and install merchant training facilities in vacant storefronts to provide education on marketing and service strategies.

The province will also select 2 to 3 regions by the end of this month that are adjacent to famous tourist routes or have specialty foods or unique merchandise, and provide 1 billion won in support to differentiate their offerings. Last year, Suwon Jidong Market and Pyeongtaek Central Market were selected for support.

Traditional markets in Gyeonggi have seen declining average daily sales as large discount marts have emerged. Daily average sales decreased from approximately 73.7 million won in 2004 to approximately 58.9 million won in 2005, a 20.1% decline, with the average daily sales per store reaching 450,000 won.