Abstract: Recently, revitalization of art and culture in Korean cities has given new life to small commercial districts that used to lag behind. Such revitalized cities are seen as fresh, attractive hotspots for sightseeing and entertainment; however, gentrification is becoming more serious. Gentrification in Korea is unique in that its effects reach not only the regional economy and its small businesses but also the area’s culture and history. Korea's old downtown areas created by rapid urbanization in the 1970s contain history and culture that trace the flow of generation. In order to balance city development and perseverance of culture, the search for a solution to gentrification must take into consideration the destructive influence of excessive commercialization on the region’s original ecosystem. In other words, solutions must be accommodated according to Korea’s specific characteristics: culture, the economy, and history. This research studies the changes in culture and the commercial environment due to gentrification in Korea. This article contains a closer observation of the before and after effects of gentrification in three areas in Seoul: Samchung-dong, Insa-dong, and Yongsan area. It further lists possible solutions based on policies that have recently been put forward by the Korean government.
Keywords: Samcheongdong-gil, Gentrification, Commercial Characteristics, Commercial Street, Culture.
Title: The Effects of Gentrification on Business and Culture in Korea
Author: Sarah Kim
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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