SEOUL, Jan. 17 (Korea Bizwire) — When TV personality Hong Suk-chun opened a Thai restaurant in Itaewon 14 years ago, the best-known foreigners’ district in South Korea was always bustling with American soldiers and foreign tourists, as well as local visitors sampling the exotic ambience of the neighborhood. Hong has since seen the district lose [...]
SUWON, Jan. 29 (Korea Bizwire) – The Gyeonggi provincial government will introduce state-controlled commercial properties this year as part of efforts to tackle gentrification. The province is trialing a policy providing 20 rent-controlled commercial spaces over 25 square meters in size between Gojan Station and Jungang Station in March, prioritizing young business owners. Public-owned commercial properties [...]
SEOUL, Sept. 11 (Korea Bizwire) – A guidebook outlining ten major points to counter gentrification has been released by a group of young South Koreans in an effort to help small business owners. Going into detail, the book lists a number of the most prevalent behavior patterns of landlords before independent business owners fall victim to [...]
SEOUL, Oct. 18 (Korea Bizwire) – As of early next year, it will be difficult to open a coffee shop franchise in an area designated as “Seoul Forest Avenue”, which is now undergoing gentrification, the process of renovating and improving a house or district so that it conforms to the middle class, leading to the [...]