[Anchor]

The win-win formula between corporations, local communities, and neighborhood commercial districts is evolving. Companies are transforming stagnant traditional markets into trendy hotspots, allowing both merchants and businesses to achieve mutual success.

Reporter Sim Useop has the story.

[Reporter]

Sinheung Market in Seoul's Haebangchon neighborhood was once dubbed a "ghost market" with a closure rate exceeding 80 percent.

The alley, which once seemed frozen in time, has now been transformed into an emotional and vibrant attraction.

[Woo Seo-yoon and Cho Su-min (23): "It feels like being in a foreign country, so I think a lot of young people visit these days, and the atmosphere is really great. I didn't know it was such an old market."]

A beverage logo, reminiscent of pop art, is stamped on shabby stairs, flower pots, and various spots throughout the restaurants.

A global brand invested a substantial amount to brightly decorate every corner of the market.

[Lee Sang-soo / Senior Vice President, Coca-Cola Korea: "Actually, I was a fan of Sinheung Market. By fusing the original beauty of a traditional market with the fun and uniqueness of a global brand, I think visitors can have a very interesting experience."]

A cultural space opened at the entrance of the market is filled with portraits capturing the faces of individual merchants.

[Hong Seung-jin / Vice President, Sinheung Market Merchants Association: "Seeing these portraits where the merchants are the main characters makes them feel a bit shy. But within this shyness, there is a sense of pride and fulfillment."]

Moving beyond simple sponsorship, the collaboration between corporations and local commercial districts is expanding into various regions through diverse methods.

Ottogi joined hands with small business owners in the village of Sehwa-ri, Jeju, successively launching collaborative products in Jeju and Seoul, while Goesan County in North Chungcheong Province opened a pop-up store with Daesung Group to promote local specialties and attractions.

Starbucks, which opened a small concept store inside Gwangjang Market, allocates a portion of its monthly profits to improve the market's environment.

[Yeo Jun-sang / Professor of Business Administration, Dongguk University: "Beyond nostalgia for the past, the process of reinterpreting it in a modern way creates a sense of novelty. People can feel a unique charm that wasn't seen before, and there is a strong response from the younger generation toward such social values."]

As regions and small business owners see increased sales and companies achieve brand enhancement, win-win strategies that capture consumers' attention with fresh appeal are unfolding.

(Camera reporting: Bae Moon-san, Video editing: Ahn Yeo-jin, VJ: Lee Ji-hwan)