The purpose of the cooperation is to fill the empty shops near the school with artists and re-establish the area as the “culture-experiencing workshop alley.” In addition, the rent prices for the shops will remain stable even when the alley regains its cultural and commercial vibrancy, benefiting the tenants in the long run.
Formed this April, Ewha University’s Alley Resident Union consists of landlords owning tenant or commercial buildings for rent in areas adjacent to Ewha’s main gate and Sinchon dong Resident Center. The Cultural Vitality Base is a community of artists who support cultural movement in the city. The latter has continued to come up with various ideas to support and provide the artists and young start-ups with empty shops near the university.
Before the cooperation was formed, Seodaemun-gu had already prevented gentrification by recruiting nine landlords in Sinchon for stabilization of rent prices since February, which was expanded to 18 landlords and as a treaty with Cultural Vitality Base. The contents of the cooperation is that the landlords put off their demands for increase in rent or deposit prices for at least five years of the rental contact. Moreover, the Cultural Vitality Base will do its best to find talented artists and young start-ups and help them become tenants of the Ewha University’s alley.
“Stores selling similar styles of apparel near the school have reduced consumer spending and led to the increase of empty spaces due to climbing rent prices,” said Lee Eun-ju of the Seodaemun-gu of Region Revival team. “Considering the special atmosphere of charm and elegance attached to the area near Ewha Womans University, the office felt the need for artists, young entrepreneurs and culture-planners to settle near the school and flourish in the near future.”
The Seodaemun-gu welcomes and will actively support artists of all kinds who are in need of workshop or commercial space. There are no standard qualifications for the tenants, and anyone wanting to open their shops can become a tenant of the alley.