Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
Incheon's Gaehangro undergoes 2nd renaissance fueled by store owners' energy
Gaehangro, Incheon / Courtesy of Gaehangro Project
By Lee Yeon-woo
Local enthusiast sparks street revival through generational collaboration
During the age of industrialization, coastal cities thrived as the hub of capital and cultural influences. However, as a country's industrial landscape evolved over time, people gradually departed from the once-crowded streets, leaving behind abandoned stores and the remnants of factories.
Gaehangro is no exception to this global trend.
Stretching 1.1 kilometers, Gaehangro has been the bustling epicenter of Incheon for over a century, dating back to the opening of its port in the late 1800s. However, as other parts of the city gradually developed, the once-thriving region began to decline.
Lee Chang-kil, the leader of Gaehangro Project / Courtesy of Gaehangro Project
It was only a few years ago that people began revisiting the run-down areas, spurred by the start of the Gaehangro Project. In 2017, project leader Lee Chang-kil and his team started operating stores with a younger vibe, such as pubs and cafes, and hosted various events to lure people back to the street.
However, according to Lee, the identity of the project has remained rooted with the seasoned store owners in Gaehangro.
"For a local project to survive, it has to be distinct from those in Seoul. To achieve this distinctiveness, it must offer something that cannot be easily replicated by others. Philosophy and time are necessary to accomplish that. And Gaehangro had exactly those components, with its old store owners," Lee told The Korea Times in a recent one-on-one interview.
Lee's team opened a noodle restaurant in collaboration with a noodle-making factory that invented jjolmyeon (spicy chewy Korean noodle) in Korea. When developing Gaehangro Beer, a unique brew exclusively available in Incheon, Lee commissioned the bottle's calligraphy to the owner of Jeonwon Crafts, who has dedicated over 60 years to producing wooden signboards at the same location. Additionally, the owner of a paint shop, who drew movie billboards in Gaehangro until the craft disappeared in 2002, became the face of a beer promotional poster.
Jeon Jong-won, the owner of Jeonwon Crafts, holds bottles of Gaehangro beer featuring the logo he calligraphed, at his store in Incheon, in this undated photo. He has dedicated over 60 years to producing wooden signboards at the same location. Courtesy of Gaehangro Project
With this project, these shop owners have emerged as the champions of the neighborhood's rejuvenation.
"In principle, Jongno and Euljiro in Seoul should have more old stores than Gaehangro. However, this isn't the case, because Seoul demolished old buildings to make way for new ones, whereas Incheon expanded through land reclamation. This approach allowed the historic downtown and heritage shops in Gaehangro to be preserved," Lee said.
There are over 60 stores in Gaehangro that have been operating for more than 40 years.
Lee recounted how his time in London left a lasting impression, where he was deeply moved by the sight of people ranging from their 20s to their 80s, effortlessly interacting in a building over 400 years old, transcending generational divides.
"I started this project to rejuvenate the entire region by making Gaehangro a brand. I believed that if senior citizens, who account for 25 percent of the population here, could not enjoy the process, then the project would only be half as meaningful," Lee explained.
Choi Myung-sun, the owner of a paint shop, poses next to a beer promotional poster featuring his face, at a store in Gaehangro, Incheon, in this undated photo. He had painted movie billboards in Gaehangro until the craft disappeared in 2002. Courtesy of Gaehangro Project.
To earn the trust of the elderly, he went to great lengths, even running a chicken restaurant for eight months during the project's early stages.
"As the so-called leader of the project, I felt that no one would take me seriously if I didn't actively participate in commercial operations on the street," Lee said.
Gaehangro isn't Lee's first venture in local regions. His journey started with the transformation of an old tangerine warehouse into a home for his parents, who relocated to Jeju Island a decade ago. This initial endeavor paved the way for a business that includes renovating an old inn near Ewha Womans University into "TORi HOTEL," offering a safe accommodation option for women, and revamping a rural house in Jeju into "TORi Cottage," a cozy lodging space.
"I don't have a grand goal like urban regeneration. I simply love beautiful structures, and the local vibe," Lee said.
He selected Gaehangro for his next project not only due to his childhood ties to Incheon but also because he recognized its competitive potential.
People eat and drink at Gaehangro chicken, Incheon, in this undated photo. Courtesy of Gaehangro Project
"Gaehangro, nestled between Sinpodong and Baedari Bookstore Street, boasts rich historical content, preserving the essence of its old downtown from the days when the port opened. However, these resources were not actively utilized for tourism purposes," Lee said.
"Like Liverpool, New York, and Yokohama, which have transformed over time instead of maintaining their industrial roots unchanged, Incheon is poised for development. It is following a similar trajectory of evolution, in tune with the changing times," Lee added.
Lee attributed the success of Gaehangro Project to a growing public interest in areas outside of Seoul.
"In the past, when survival was the priority, the concept of personal preferences hardly existed. Nowadays, Koreans are actively cultivating their individual tastes," Lee said.
"In this context, local regions, with their more affordable building prices, will provide new opportunities for young people eager to start their own businesses. In Seoul, success ironically increases the risk of displacement. But in the provinces, success often leads to sustained prosperity."