The Ministry of SMEs and Startups announced that Deputy Minister Lee Byung-kwon visited traditional markets in Gyeongnam on August 18 to assess the damage and listen to the concerns of merchants. He inspected the recovery situation at Gohyeon Market in Geoje and Seoho Market in Tongyeong.
According to the Korea Meteorological Administration, record rainfall began on August 15 during the Liberation Day holiday, causing significant damage in the Geoje and Tongyeong areas. As of 9 a.m. that day, the cumulative rainfall in Geoje reached 957 mm.
The Ministry reported that the heavy rainfall affected 15 markets in the Gyeongnam region, resulting in flooding and landslides. All 100 stores in Gohyeon Market were reported to have suffered from flooding and landslide damage, while 150 out of 300 stores in Seoho Market were also affected.
To ensure timely support for affected merchants, the Ministry is coordinating with local governments, regional SMEs and Startups agencies, and the Small Enterprise and Market Service to establish a response system. They have requested safety inspections from Korea Electric Power Corporation to prevent electrical and gas accidents due to flooding and plan to expedite the recovery process for electrical and gas facilities from the usual 2.5 months to within 10 days.
A one-stop support center is being operated to assist with the issuance of disaster verification documents and to provide financial support, including policy funds and guarantees, for rapid recovery.
Additionally, a new safety inspection system will be implemented to identify markets vulnerable to flooding, which will be linked to a traditional market safety management package program.
Deputy Minister Lee Byung-kwon expressed his condolences to the merchants affected by the heavy rain, stating, "I extend my deepest sympathies to the traditional market merchants who have suffered due to the heavy rainfall. We will closely communicate with relevant departments, local governments, and related agencies to support rapid recovery so that they can return to their livelihoods as soon as possible."
* This article has been translated by AI.
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