/Reporter Hwang Chae-young Hyeon Man-soo (79), owner of ‘Seongmun Christian Books’ located on Cheonggyecheon Used Bookstore Street in Jung-gu, Seoul, is standing at the entrance of the bookstore around 1 p.m. on the 8th.
“I’ve been in business for 36 years, and this is the first time I’ve seen it fail this way. In the heyday of the 90s, there were 120 used bookstores here, but now there are only 13 left. What if everyone leaves and I get sick and collapse? Even though I’m old, I have to keep doing business as long as I can, until I die.”
Seoul, South Korea – A quiet desperation hangs over the alley commercial districts of Seoul as business owners grapple with a sharp economic downturn. The used bookstore street in Cheonggyecheon, visited on the afternoon of January 8th, embodies this struggle, with dwindling foot traffic and mounting anxieties.
As consumer sentiment cools amid rising prices, merchants report conditions more challenging than those experienced during the coronavirus pandemic. Yet, a resilient spirit persists, with some shopkeepers determined to weather the storm. This report profiles self-employed individuals on the brink in areas like Dongdaemun Toy Street, Cheonggyecheon Used Bookstore Street, Namdaemun Market, and Noryangjin Cup and Rice Street.
◇“Even if 13 out of 120 locations remain… we will protect them until the lights go out.”
Hyeon Man-soo, 79, owner of Seongmun Christian Books, a fixture on the Cheonggyecheon Used Bookstore Street since 1990, surveys the nearly empty street with a weary smile. His 8.26㎡ (approximately 2.5 pyeong) store, overflowing with decades of collected books, once buzzed with students. Now, he confessed, profits have plummeted 80%, barely enough to make ends meet.
“The owner of the store next door was so stressed out that business was so bad that his health deteriorated significantly. When I saw that, I got scared. I thought, ‘I need to take care of my health too,’ so I try to smile more and be cheerful.”
Despite the challenges, Mr. Hyun diligently cleans and organizes his books each day, clinging to memories of Yonsei University students campaigning to save the used bookstores in the 2010s and collaborative book markets with the Seoul Metropolitan Government. He remains determined to keep the street alive, hoping for a brighter new year for both his business and the legacy of used bookstores in Seoul.
◇ ‘Black rice cup rice’ helped overcome cancer “I live thanks to the students’ willingness to eat”
/Reporter Kang Hye-jin Baek Chung-sik (71), owner of ‘Manna Black Rice Cupbap’, is putting the completed menu in a bowl at Noryangjin Cupbap Street in Dongjak-gu, Seoul around 1pm on the 8th.
At Noryangjin Cupbap Street in Dongjak-gu, Seoul, Baek Chung-sik, 71, diligently toasted bread on a heated iron plate despite a frigid -4 degrees Celsius temperature. Operating at this location for nearly 30 years since 1997, he steadfastly uses black rice—more expensive than white—believing that “even if business is slow, the health of studying students must be prioritized.”
For Mr. Baek, this cup rice restaurant is deeply personal. Diagnosed with cancer after a successful career as a precision processing engineer, he spent his severance pay on surgery. Thirty years ago, he and his wife, Kim, began selling cup rice to rebuild their lives after illness. “I’ve been doing this a long time, so there’s not a place that doesn’t hurt,” he said with a smile, adding that his wife had visited three hospitals that day. “But when I’m with young people, I feel younger too, so it’s fun.”
Mr. Baek and his wife work nearly 18 hours a day, from 5:20 a.m. to 11 p.m. He finds reward in seeing students who have passed civil service exams return to thank him, and regulars who bring their children.
Kim’s New Year’s wish centered on their “guests.” She said, “If a student who comes here after a long time feels the taste has changed, wouldn’t that erase their old memories? That’s why we can’t stop using black rice.” She hopes their customers stay healthy and prosper. Mr. Baek added with a smile, “If I don’t have money, I empty my mind as if I have nothing. I think we just have to eat and live,” and “I still do business today with the mindset of feeding my sons and daughters.”
◇ Party supply store disappears… “5% survive on debt”
/ Reporter Won Jong-bin At around 1:30 p.m. on the 8th, Lee Sang-myeong (67), owner of ‘Bbangpare’, a party supplies store located in the Dongdaemun Stationery and Toy Wholesale Market in Jongno-gu, Seoul, is packaging a figure that appeared in the movie ‘Demon Slayer’.
The vibrant balloons and masks at the entrance of Dongdaemun Stationery and Toy Street belie the quiet inside Lee Sang-myeong’s store, ‘Bbangpare’. Lee, 67, begins each day opening his shutter before anyone else, but spends his afternoons rearranging boxes of “Demon Slayer” figures or wiping already-clean shelves. Anniversary and festival decorations, once in high demand, now sit in storage.
“Year-end is a thing of the past. Last December’s sales were worse than the year before. Frankly, I think the top 5% of stores on this street are making a profit right now. The rest are either losing money or barely surviving by taking on debt.”
Many days, daily sales struggle to reach 100,000 won. The loan he took for store maintenance and living expenses has reached 100 million won, with regular interest payments and a consistently low sales graph. The prospect of redevelopment looms large. Lee sighed, saying, “If redevelopment begins, I’ll be forced out without compensation or key money,” and “At that point, rather than closing down, I’ll have no choice but to end this chapter of my life.”
The somber atmosphere was broken by a small customer—a child holding a parent’s hand, excitedly discovering a toy. Lee’s wrinkled brow smoothed as he quickly found the item and handed it over, gently stroking the child’s head.
“In the end, I’m in business just to see those smiles. What’s the point of my store succeeding if the others don’t? We all need to work together, like cogs in a wheel, to truly thrive.”
◇ Namdaemun 40 years of ‘clothes business’… “If you sell this, there is nothing in the world you can’t sell.”
/Reporter Ji Hye-jin At around 2 p.m. on the 8th, Lee Gyeong-bok (66), owner of ‘Daedosa’, a men’s clothing store located in Namdaemun Market, Jung-gu, Seoul, is posing among hangers.
‘Daedosa’, a men’s clothing store measuring approximately 16.5㎡ (approximately 5 pyeong) at the entrance to Namdaemun Market in Seoul. Owner Lee Gyeong-bok, 60, studied English and Chinese on his smartphone instead of using a calculator. The monthly rent of 3 million won is difficult to afford, and attracting Southeast Asian tourists—his main customers—is a struggle.
The average number of customers per day is less than 10, resulting in daily losses, but Lee chooses to study rather than despair. “If Koreans don’t come, shouldn’t we at least sell to foreigners? We can’t just sit and wait.”
Having operated at this location for 40 years since 1986, Lee takes pride in the belief that “selling clothes is about understanding people’s hearts and languages.” He and his wife run the store alone, starting their day at 5 a.m. every day.
The reality is that government consumption coupons and loans offer little relief. Even while taking on more debt to avoid further losses, he remains resolute. “What else would I do at my age? As long as I’m healthy, I can be self-employed and sell clothes until I’m over 80. I’ll do my best to support my family and live happily.”
