This study aims to explore the linguistic and cultural characteristics of Busan’s old downtown. To achieve this, the linguistic landscapes of three major traditional markets—Gukje Market, Bupyeong Kkangtong Market, and Jagalchi Market—were collected and analyzed as representative commercial spaces of this area. The key findings are as follows: First, Hangeul was the most frequently used script type across all three markets and appeared in the largest font size, reflecting a general preference for Hangeul and the Korean language regardless of business type. Second, store names consisting of four to five syllables were the most common. Third, Gukje Market displayed varied linguistic landscapes across its streets, with the street adjacent to Gwangbok-dong exhibiting the most linguistic diversity. Fourth, the temporary stall signs in Bupyeong Kkangtong Market’s night market exhibited the greatest linguistic variety, showcasing a broad range of languages. Fifth, in Jagalchi Market, where the proportion of foreign tourists is relatively high, signs were predominantly in Hangeul, but menus were provided in multiple languages to accommodate linguistic diversity among visitors. Finally, the use of regional dialects and various regional names in store signage reflected Busan’s local identity and migration-driven history.