Eye of The Argus

Have you been to any traditional markets recently? Traditional markets in South Korea have been losing their competitiveness when compared to modern supermarkets. Now, measures to revitalize traditional markets are being introduced. Seven of Ulsan’s traditional markets are receiving financial support worth 170 billion Korean won. This support will also include 98 billion won from the national government according to the announcement the city made on March 9. With this money, the markets are planning to construct parking spaces and focus more on marketing.

This assistance is wonderful news, but the writer believes that maybe this action should have been taken sooner. Modern supermarkets cannot open biweekly on Sundays. However, the author has always thought that the effectiveness of giving a handicap to huge supermarkets will not last long and that traditional markets should grow under the power of their own specialties.

Traditional markets should not be considered places that you visit on special days or simply go to hang out. We now have to think about how to attract regular customers to these markets by developing specialties. In order to do so, market infrastructure should improve. The writer knows that traditional markets have long been a symbol of “jeong,” which is the Korean word for warmth among humans. However, beyond the symbol, markets need a more refined appearance as well.

Not only does their appearance need to change, but the reporter personally thinks their marketing approach is what needs the largest change. The reason traditional markets have lost their competitiveness is due to all the coupons, sales or membership points that modern markets offer. Why don’t traditional markets try something similar on their own? The writer knows that bargaining does exist at these places, but younger generations are not accustomed to this culture. The writer believes the current situation differs from the past. Traditional markets should also change as the world and consumers change.

As the writer is not an expert, these suggestions might not be the best approach. However, one thing the writer believes is that markets have to change as the culture, consumers, and competitors also change. The writer hopes this support for the markets of Ulsan will extend to markets nationwide so that traditional markets can regain their pace and become competitive again.

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