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Study on Policies and Strategies for Fostering Traditional Markets - Focused on Improving Efficacy of Public Markets Development-
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전통시장 선진화를 위한 제도개선에 관한 연구 : 공설시장을 중심으로

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Type
Academic journal
Author
Journal
Korean Society of Business Venturing Asia-Pacific Journal of Business Venturing and Entrepreneurship Vol.5 No.4 KCI Accredited Journals
Published
2010.12
Pages
69 - 94 (26page)

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Study on Policies and Strategies for Fostering Traditional Markets - Focused on Improving Efficacy of Public Markets Development-
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With the liberalization of distribution services industry since 1996 as well as changes in customers' appetite to spend and consumer behaviors, new forms of distribution services have mushroomed such as superstores and SSM(Super Supermarket), online shopping, TV shopping channels. On the contrary, traditional markets have sunk into a swamp of stagnation. As this stage of stagnation of markets negatively affects tradespeople's employment, livings, and local economy, the Korean government has conducted policies to support improvement of market facilities and management since 2004. However, the government has separated facility improvement from management improvement. As of June 2008, there are 1,550 traditional markets in Korea and among these there are 388 public markets which local governments have established and managed. Public markets have possibilities to be developed as successful models of market revitalization since they can get all-expenses-paid supports for facility improvement, control of merchandise assortment, educational program for merchants. Such successful (strategic hub) markets could become the benchmark for other neighboring markets and tradespeople which could lead other successful cases. In order to produce such effects, the market should have optimized facilities, merchandise and services, co-marketing strategies with nearby markets, group purchase strategies. The hub market could play a critical role in distribution of local goods and developing high value products.

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