South Korea launches RE:CORE Project to revitalize old town centers

The South Korean government has announced the ‘RE:CORE Project,’ a pilot initiative designed to revitalize declining old town centers by repurposing vacant commercial spaces and idle buildings. The project is a collaborative effort between the Ministry of Land, Infrastructure and Transport, the Ministry of Culture, Sports and Tourism, and the Ministry of SMEs and Startups.

Under the plan, vacant shops will be converted into ‘Old Town Revitalization Stores,’ serving as studios for artists, coworking spaces, and pop-up stores. To ensure stability, the government will provide rent support for youth, artists, and entrepreneurs. Larger idle facilities, such as unused motels or public buildings, will be transformed into ‘specialized hubs’ for culture, startup incubation, or local brand exhibitions.

Selected regions can receive up to 24.24 billion won in national funds, with total project costs reaching approximately 36.5 billion won per area. The government aims to select one to two locations in each of the major regional zones (excluding the Seoul metropolitan area) to begin pilot operations starting in 2027, with plans to expand the program through 2029.