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Analysis the Policy Enforcement Situation of Activating Project of Traditional Markets and Its Effect: The Case of Chungnam Province

  • Journal of Regional Studies and Development
  • Abbr : JRSD
  • 2013, 22(2), pp.165-187
  • Publisher : Institute for Poverty Alleviation and International Development: IPAID
  • Research Area : Social Science > Area Studies > Regional Studies in general > Comparative / Statistical Regional Studies

Im,Jun-Hong 1

1충남발전연구원

Accredited

ABSTRACT

This study is to analyze the effect of government support for traditional market, which was not able to adjust to the changes in customer behaviors and in the structure of retail market. Although Chungcheongnam-do had invested 272.7billion wons between 2002 and 2012 to revitalize the traditional markets, the revitalization score for Chungcheongnam-do was 50.1 which was slightly above the national average, 49.3. From the empirical analysis of survey on the vendors at the traditional markets of Chungcheongnam-do, where more than two billion wons was invested, we found the following:1) The investment in management modernization projects was more effective in revitalizing the traditional market than the investment in facility modernization projects which require a larger amount of investment. 2) Among the modernization of the facility modernization projects, the investment in infrastructure turns out to be most effective, ant then the investment in advertizement facilities, and investment in facilities for customers’ convenience follows. 3) The increment in sales and the number of customers was the larger in those shops where the owner is young and is working with two or three employees. These findings suggest that the future investment to revitalize the traditional markets should focus more on improving the merchant's management capabilities than modernizing the hardwares and facilities. To enhance the effectiveness of such investments, the priority of the projects should be carefully scrutinized and all the projects should be combined with the active participation of the merchants.

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