The historic Gwangjang Market in Seoul’s Jongno district, a 120-year-old establishment, is set for a significant transformation. Established in 1905 by local merchants, Gwangjang Co. Ltd. has managed and operated the market buildings ever since. The company has recently partnered with Starbucks and the Star Wars fandom for a large-scale revitalization project. This initiative aims to preserve the market’s renowned food culture while enhancing it as a destination where visitors can stay longer and enjoy more attractions.
Gwangjang Market has long been a popular spot for food tours, attracting numerous visitors. However, the market’s second and third floors have been struggling with many vacant shops. Additionally, there has been considerable controversy over high prices charged to both domestic and international tourists.
A key element of the revitalization plan is the introduction of a Starbucks in the market’s central area, near Bindaetteok Alley and Yukhoe Street. The Starbucks will occupy the second floor of a building adjacent to the market’s central meeting square. This space previously housed traditional hanbok and fabric shops dating back to the early 1900s. Due to declining patronage, these shops had left the space vacant. Gwangjang Co. Ltd. and the Seoul city government decided to lease the space to Starbucks, seen as a marker of a popular destination, to rejuvenate the area.
The third floor of the same building will be transformed into a toy museum featuring old figurines and toys. This project, spearheaded by Jongno District and the New Fandom club, aims to convert an unused space into a haven for enthusiasts. The museum will feature three themed sections: the Memory Warehouse, the Creativity Warehouse, and the Attachment Warehouse. Since early July, the exhibition has been in a trial phase, showcasing items such as Star Wars and Marvel figures.
Another strategy involves combining long-standing stores with pop-up stores. Visitors entering the market near Cheonggyecheon Majeon Bridge will find the 365 Days Open Grocery Store. This shop typically sells various items and food products from Gwangjang Market but also hosts pop-up stores in collaboration with different companies. Over the past two years, it has partnered with companies such as Jeju Beer, Hongsugol Makgeolli, Neurin Maeul Makgeolli, and General Yongyong. Currently, it is operating a pop-up store with wine YouTuber “Wineking.”
Gwangjang Market has previously introduced activities and attractions to appeal to younger visitors. Examples include a reincarnation photo studio offering four-frame sticker photos with various themes and the flagship store of Pleatsmama, known for its accordion-shaped bags. Popular spots also include Ilho Market, famous for its Gwangjang Latte, and Miikflo café, which sells Turkish treats like kaymak.
Despite these innovations, the issue of price gouging remains a significant challenge for Gwangjang Market. Following controversies last year, the market implemented a “fixed quantity labeling system” and pledged not to refuse card payments. They also committed to suspending businesses found guilty of overcharging or forced sales. However, complaints about high prices continue to appear on social media. Market management acknowledges that both the physical appearance and the behavior of vendors need to change and is committed to ongoing internal efforts to improve.
