Seongdong District in Seoul announced on June 27 that it has signed a memorandum of understanding with seven groups of young merchants who were selected for the Youth Local Creator Nurturing Competition, and will actively support the creation of business models based on regional resources.
The Youth Local Creator Nurturing Competition is a project prepared by Seongdong District to revitalize local content and strengthen regional commercial districts through the creative ideas of young merchants. This project, which has been implemented since 2023, is now in its third year.
The competition was held throughout April, and the seven groups of young merchants operating within Seongdong District were finally selected. The selected teams proposed ideas that actively utilized regional resources, such as experiential workshops using Seongsu-dong’s manufacturing culture, promoting a joint brand for local manufacturing, operating night markets in traditional markets, developing experiential content for local tourists, and creating local traditional liquor meal kits.
Seongdong District plans to provide a differentiated budget of up to 50 million won for these projects and aims to help re-evaluate regional value and create sustainable business models through the activities of young merchants.
Jung Won-oh, the mayor of Seongdong District, said, “For the sustainable development of the region, the ideas and networks of young merchants should be the focus,” and added, “This project is expected to be a leading example of growth for both the region and the youth.”