Lee calls for revitalizing traditional markets

SEOUL, Sept. 5 (Yonhap) -- President Lee Myung-bak called Monday for more visits to traditional markets ahead of the Chuseok holiday, saying that revitalizing such small-vendor facilities will help boost regional economies and improve the livelihoods of low-income families.
"I have a special request to make to our citizens with Chuseok just around the corner. I hope people will frequently use traditional markets," Lee said in his biweekly radio address, a week before Chuseok, one of Korea's biggest traditional holidays, roughly the equivalent of Thanksgiving Day.



"It would be good to visit and shop at one of the lesser known traditional markets that are going through tough times. The revival of the economy of those traditional markets would go a long way toward helping the local economies as well as the day-to-day finances of low-income families," he said.
Traditional markets in South Korea have increasingly lost ground to large discount stores and chain supermarkets, raising concern that conglomerates are driving small, regional merchants out of business and siphoning off money from local economies.
In efforts to lure back customers, traditional markets have carried out renovations to offer better service and convenience. The government has also taken a series of support measures to help revitalize traditional markets, such as permitting parking and temporary stopping on the streets in the vicinity of traditional markets on holidays.
Lee said that recent research has found that prices of food for Chuseok ancestral rites were lower at traditional markets than at major supermarkets and discount stores by 20 to 30 percent on average. Vegetables, wild edible greens and fish were found to be much cheaper.
"The present-day traditional markets are a huge departure from the markets in the past," Lee said. "The quality of goods is very high, though they are relatively inexpensive. In addition, they are being sold in a better environment. I recommend that all of you should visit the traditional markets in person to witness such changes."
The appeal is in line with Lee's efforts to help improve the livelihoods of low-income families amid perceptions that the benefits of growth in big businesses, or chaebol, do not trickle down to the working class.
Last month, Lee put forward what is dubbed "ecosystemic development" as a key policy focus in the remainder of his term that ends in early 2013. The drive calls for big businesses to play greater roles in helping smaller firms grow and in addressing social polarization.