"alleyway economist" Mo Jong-rin, a professor at Yonsei University, drew attention to the European Union's European Capitals of Small Retail policy and raised the need for Korea to shift its regional economic policy.
On the 1st, through Facebook, Mo said, "Since the 2000s, creators and small business owners have led urban innovation in Korea and created world-renowned spots such as Hongdae and Seongsu-dong in Seoul, and policies to nurture traditional markets and revitalize commercial districts have long been pursued," but noted, "We have failed to make a policy shift that elevates these into the city's identity and cultural asset." He added, "Designating small business cities is a policy Korea could have attempted first."
The European Commission held the first European Capitals of Small Retail awards ceremony in Brussels, Belgium, on Jan. 28 and selected Silandro, Italy, as a leading city, Caldas da Rainha, Portugal, as a vibrant city, and Barcelona, Spain, as a visionary city. In particular, Barcelona was highly rated for strengthening neighborhood commercial districts, protecting local retail, and creating a community-centered living environment. The recognition reflects the view that small shops, not large chains, create vitality in city centers.
European Capitals of Small Retail is a program proposed by the European Parliament based on a citizens' petition, viewing small business owners as the key actors in regional economies and focusing on strengthening regional vitality, cultural identity, and economic resilience.
While Europe has pursued city policies centered on cultural and creative industries through the European Capitals of Culture and the Cultural and Creative Cities Monitor, European Capitals of Small Retail is notable for focusing not on festivals or events but on everyday retail spaces and local businesses.
Mo emphasized, "Europe officially recognizes retail not as a mere commercial activity but as a core element of cultural identity and regional economic resilience," adding, "Korea, which is pursuing regional economic revitalization, should also take note of this trend and consider its policy options."