Busan is good

Mayor Park Heong-joon Conducts On-Site Inspection to Revitalize Local Commercial Districts — City to Greatly Expand Support for Local Economy

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Mayor Park Heong-joon of Busan Metropolitan City will visit the Pusan National University (PNU) commercial district at 11:50 a.m. today (April 30) to tour the area and communicate with local merchants.

This visit aims to assess the current conditions of struggling commercial districts and gather feedback directly from merchants and commercial district association leaders.

Once a bustling area filled with university and high school students, the PNU commercial district has recently experienced significant decline due to youth outmigration and changing consumption patterns, leading to a surge in vacancies.

During the visit, Mayor Park will review the seriousness of the downturn and discuss strategies for implementing commercial district revitalization projects.

Busan has been selecting revitalization project sites through its own public contest since 2024.

This year, projects are underway in two areas selected in 2024:

• ●Choryang E-eum Autonomous Commercial District (Dong-gu)

• ●You&University Road Autonomous Commercial District (Nam-gu)
  Each project receives up to KRW 5 billion over five years.

These projects include both:

• ●Hardware improvements (H/W) – creating unique, themed anchor spaces

• ●Software programs (S/W) – developing specialized product brands and cultural content

For 2026, three new commercial districts were selected:

• ●Hadan Autonomous Commercial District (Saha-gu) – KRW 600 million

• ●PNU Hive Commercial District (Geumjeong-gu) – KRW 600 million

• ●Gijang Market Area Autonomous Commercial District (Gijang-gun) – KRW 400 million
  → Total investment: KRW 1.6 billion over five years

Following a public contest in March, sites were selected through on-site evaluations, presentations, committee deliberations, and approval from the Ministry of SMEs and Startups.

Each district will implement customized revitalization strategies based on their specific challenges and local characteristics:

• ●Hadan: Segmental zone design with themed concepts

• ●PNU Hive: Young and vibrant cultural space utilizing alleys to reduce vacancies

• ●Gijang Market: Tourism-oriented district using regional historical resources

Busan submitted its special budget allocation plan for regional balanced development to the ministry on April 30.

The city will finalize all project plans and secure approval for five-year and annual strategies by December, with full-scale implementation starting in 2026.

This initiative is expected to revitalize local commercial districts hit by economic stagnation and breathe new life into once-thriving areas.

Rather than simply providing support, the program will foster community-led innovation through local creators and commercial planners with expertise and creativity.

By cultivating local content and branding, Busan aims to generate new added value.

A dedicated advisory committee will be formed to ensure direction, effectiveness, and ongoing consulting throughout the program.

Mayor Park Heong-joon remarked:

“It is disheartening to see the decline of the once-thriving PNU commercial area.
With vacancies rising and the local economy shrinking, we will continue to provide multifaceted support to help revitalize regional commerce and economic activity.”

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Appendix 1 – Visit Overview

Date: April 30, 2025
Location: PNU Hive Commercial District (Exit 1 & 3 of PNU Station)
Schedule:

• ●11:20–11:50: Site arrival and tour (Burger King, Exit 1 area)

• ●11:50–12:10: Briefing by Geumjeong-gu Office

• ●12:10–13:00: Discussion with autonomous commercial district officials

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Appendix 2 – 2026 Commercial District Revitalization Project Overview

• ●3-year base term + 2-year extension possible

• ●Funding Ratio: National 50% / City 25% / District 25% (includes private matching)

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Appendix 3 – Photo Examples

• ●Hadan: trendy signage improvement near Dong-A Univ.

• ●PNU: signage installation near Exit 1 and 3

• ●Gijang: Local Youth Market in Gijang Market area