A view of Sharosugil in Gwanak-gu, Seoul. [Gwanak-gu]
A view of Sharosugil in Gwanak-gu, Seoul. [Gwanak-gu]

Gwanak-gu announced Tuesday that the Sharosugil merchants' association has established a merchants' cooperative — the first among commercial districts designated under the Seoul Metropolitan Government's local brand project.

Sharosugil is Gwanak-gu's signature alley commercial district, home to a concentration of restaurants, cafes and retail shops. A district official said that until now, revitalizing the commercial district had depended on the efforts of individual stores. "The cooperative's establishment is meaningful because it lays the groundwork for merchants to jointly identify and run revenue-generating projects — a move toward building a merchant-led growth model," the official said.

The cooperative plans to develop a shared local brand capturing Sharosugil's distinct character, with a portion of the resulting revenue set aside as operating funds to reinvest in revitalizing the district.

The cooperative will also pursue joint purchases of raw materials commonly used across member stores to reduce costs. A district official said the aim is to "create a virtuous cycle in which cost savings and shared revenue feed back into strengthening competitiveness."

Gwanak-gu has committed 3 billion won ($2.05 million) from 2024 through this year to its local brand commercial district development project. The district supported the cooperative's launch by providing expert-led education sessions and guidance on establishment procedures to strengthen the merchants' organizational capacity.

Gwanak-gu Mayor Park Jun-hee said the district would do its utmost to ensure the initiative strengthens the self-sufficiency of Gwanak-gu's alley commercial districts and develops into a sustainable model for local economic revitalization.


ken@heraldcorp.com