Could young entrepreneurs bring vitality back to the market? Government support expands - South Korea

KB Kookmin Card analyzed 57 million pieces of big data from transactions that occurred at 89,000 market affiliates across the country and found that 18% of consumers who visited the market in 2023 will be
Among them, 26% were in their 20s, the highest proportion at 26%. Even franchisees run by young people are pursuing strategies to capture young customers.
Ji Yoo-jeong, CEO of Daejeon Station Meat Shop, said, "It seems like more people are buying tasty food these days, even if it's expensive and in small quantities."
After inheriting a butcher shop from his father, he expanded his product lineup from low-priced imported meat in bulk to high-priced products in small packages. He expanded his sales channels online and started selling dishes such as Yukgaejang and Gomguk.
The ministry also plans to sell pre-prepared meals. Meanwhile, the Ministry of Small and Medium Enterprises and Startups has decided to expand support for the "Youth Mall" project, which has supported markets where young businesses account for 60% of the total, to individual businesses from 2025.
A person from the department said, "There are cases where private shops selling gyoza at the market have grown into businesses. Recently, they have even expanded to exporting products. When a popular shop is established,
"We believe this will attract more people to the store and help change the atmosphere in the market."