Applications open through Nov. 16
Five programs available, including culture-tourism market support
Culture-tourism market grants to reach up to 2 billion won
The Ministry of SMEs and Startups is accepting applications for programs aimed at revitalizing traditional markets and shopping districts next year.
The ministry announced Monday that it will accept applications for its "2027 Traditional Market and Shopping District Revitalization Support Program" from Tuesday through Nov. 16.
The initiative is open to traditional markets, shopping districts and alley-type commercial zones. Five programs are available: culture-tourism market development, market management support, a traditional market safety management package, regional product exhibitions and a national outstanding market expo.
The culture-tourism market program helps markets leverage local history and cultural assets to boost competitiveness and draw outside visitors. Around 30 markets are expected to be selected.
Starting next year, the program will expand its support period and funding ceiling — from a maximum of 1 billion won over two years to a maximum of 2 billion won ($1.48 million) over three years. Even after a project concludes, merchants' associations will receive capacity-building assistance to help them independently sustain tourism content.
The market management support program will serve around 400 markets, providing merchant education, business consulting and staffing support including market managers and delivery managers.
The traditional market safety management package will select around 300 markets to fund the installation and renovation of safety facilities designed to guard against disasters such as fires and floods.
Next year's package will place greater emphasis on installing cooling systems to prepare for heat waves and improving drainage infrastructure to prevent flood damage. Improvements to sections prone to icing and management of falling-object hazards — measures aimed at heavy snowfall and typhoons — will also be added to the list of eligible items.
As a result, the budget for the traditional market safety management package will expand from 13.2 billion won to 56.2 billion won — an increase of 43 billion won under the government's budget proposal.
The overall initiative focuses on simultaneously strengthening the competitiveness of traditional markets and creating safer operating environments. The ministry said the expanded scope — spanning tourism content development tailored to each market's character, merchant management capacity building and disaster-prevention facility upgrades — is intended to underpin broader market revitalization.
The regional product exhibition program will support around 10 markets and shopping districts in showcasing and promoting their quality goods and local specialties. The national outstanding market expo program will select one venue to promote exemplary traditional markets and shopping districts.
Separate nurturing programs for traditional markets — including century-old markets and everyday consumer markets — as well as local commercial district development programs covering glocal commercial zones, local-theme commercial zones and promising alley commercial zones, will be announced later through a separate notice.
Detailed information on each program is available on the Ministry of SMEs and Startups website. Local governments wishing to participate may apply online through the Sosanggongin24 portal.
boo@heraldcorp.com
