The sales have decreased to one-tenth of what it was before the COVID-19 transfer. I can't pay the monthly rent either.
On the afternoon of the 27th of last month, the stationery and toy market in Chungshin-dong, Jongno-gu, Seoul, was bustling with mothers and children. It seemed to have surpassed about 100 people. However, the owners of the stationery and toy stores in the market sighed, saying, "Most people came to browse rather than to buy products."
Parents and children visiting the market that day held character stickers or bubble toys worth a few thousand won. In fact, there were more people walking around empty-handed.
People in the market unanimously said, "It has been a long time since the new semester rush disappeared." In particular, that day, many more people visited the market due to the warmer weather.
From 2:30 p.m. that day, as a reporter walked around the market for about an hour, there were about 100 people present, but a market trader explained that if it were a regular day not during the new semester season, it would be less than one-tenth of that. He said, "People buy toys online or go to large supermarkets or Daiso, and don't come to the Chungshin-dong toy market."
◇ Over 50 years old, the Chungshin-dong stationery and toy market...stores closing one after another
The Chungshin-dong stationery and toy market, which began forming in the 1970s, has over 100 stationery and toy stores. However, about 10 stores have closed down last year and this year. That day, closed stores were noticeable throughout the market. There were also signs saying "For lease inquiries" in front of closed stores.
Park, the owner of a toy store operating in Chungshin-dong for over 40 years, said, "I can't even pay the monthly rent," adding, "I keep deducting from the deposit." He continued, "I'm trying to reduce the monthly rent by halving the store."
The owner, who has been in the stationery business for 15 years, said, "Sales have continuously decreased since COVID-19," noting, "Compared to before the COVID-19 transfer, sales have decreased to one-tenth." He then added, "Except for a few places in the market, I believe the situation is quite similar for everyone."
A nearby real estate agent said, "Stores in the market are continuously decreasing, but no one is inquiring about coming in at all."
The biggest reason the Chungshin-dong stationery and toy market is facing difficulties is the decrease in sales due to changes in the online distribution paradigm. People find it more convenient and cheaper to purchase stationery and toy products through platforms like Coupang and Naver Shopping, so they do not bother to visit the market. The decline in demand due to low birthrates has also impacted this.
In particular, while Chungshin-dong is a wholesale market, it has lost its wholesale function. This is because retail traders who used to buy goods here are disappearing.
About 500 stationery stores nationwide close each year. According to the Korean Stationery Distribution Cooperative, there were 8,900 stationery stores in 2022, which has decreased to 8,300 in 2023 and 7,800 in 2024.
Kim, who has been in business at the Chungshin-dong stationery and toy market for over 20 years, said, "Retailers who used to buy in bulk no longer come," adding, "Even when they do come, they only buy 4 to 5 necessary items."
◇ Jongno-gu office preparing to develop a 'walking tour' course..."We need to attract tourists linked with Gwangjang Market”
The Jongno-gu office, the governing local authority, is well aware of this situation. In response, the office plans to repave the road in the Chungshin-dong stationery and toy market with vibrant colors like red, yellow, orange, and green in April, creating a space for children to come and enjoy.
In the second half of the year, preparations are underway to develop a 'walking tour' course linked to nearby areas such as Cheonggyecheon, which is a 5-minute distance from the market. The plan is to attract more people to the Chungshin-dong stationery and toy market.
Professor Jeong Cheol from the Tourism Department at Hanyang University noted, "There is Gwangjang Market about 15 minutes away from Chungshin-dong stationery and toy market, and we need to utilize this effectively," adding, "We need something attractive to lure foreign tourists enjoying food at Gwangjang Market to the toy market.”
Professor Jeong also emphasized, "Most merchants in the Chungshin-dong stationery and toy market are first-generation market operators over 50 years old," stressing that there needs to be consideration for ways to involve younger people who can revitalize the market.