Jongwon Baek Warns Speculators... to "Transfer Budget Market Whole"

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Jongwon Baek, CEO of The Bone Korea, warned sternly, "I'm sick of the soaring rents in commercial districts in the Chungnam Yesan market."On the 19th, CEO Baek introduced the recently renovated budget market in a video posted on the YouTube channel 'Jongwon Baek PAIKJONG WON'.

Baek said, "It could have been a common modern market, but it is meaningful because it seems to be reborn as a market that tourists can continue to visit." Referring to the recent surge in commercial rent in the budget market, he said, "I am a person who is sick of gentrification (a phenomenon in which the poor area thrives and people flock to it, and the rent rises, causing indigenous people to be pushed out."

Earlier, Dubon Korea signed an agreement with Yesan-gun, Chungcheongnam-do since 2018 to carry out a win-win project in the old city center. In particular, the budget market was newly introduced in a retro atmosphere through the "Budget Market Revival Project" and made it a national attraction.

However, as the budget market emerged as a popular attraction, some nearby building owners began to raise rents. In response, not only local governments but also CEO Baek's side started to purchase shopping malls in some areas, but rents in surrounding commercial districts rose day by day.

Merchants said, "The store, which used to be 100,000 won per month, is now going up from 1.6 million won to 2 million won," and argued, "There is a part where the market price rises because there are a lot of people."

Baek said, "If it is judged that the sale price rises due to high rents and destroys the competitiveness of the market, we will move the market with like-minded merchants." He warned that he could leave the entire market behind.

Finally, I give you a warning, not a warning. We will never enter if land prices fluctuate due to ridiculous real estate speculators," he stressed, adding, "I and Dubon Korea started it after seeing the future and growth power of the region, not from the beginning to make money. I hope we all feel the same way," he added.

Reporter Lee Yu Na from Digital News Team.