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Translation of KBS News: http://news.kbs.co.kr/society/2012/03/18/2451655.html

Seongnam (Gyeonggido-province)’s Moran market, the nation’s largest 5-day traditional outdoor market, is in the crisis of disappearing. Merchants who have been conducting business in this market for close to 50 years are having trouble finding a place to relocate.

Seongnam’s Moran market opens for business on the 4th and 9th days, every 5 days without fail. Since 1964, this has been the largest market, opening every five days and attracting 130,000 people nationwide.

However, as this market is being transferred to the “Bogumzari” housing district’s road, the market has to give up its space this year.

Moran Market Merchant Association President: “The market is facing more difficulty day by day, and it is not protected as a “Traditional Market” so it needs help…”

However, the merchants who have been carrying on the tradition for nearly 50 years can’t find a place to relocate. According to the current law, 5-day markets are exempt from the “Traditional Market” designation, and land loss is not compensated. Moran Market’s temporary opening on the covered road also blocks the “Traditional Market” designation. Because of that, LH Construction, which is in charge of the “Bogumzari” (meaning “home”) Housing project, is trying to delegate all market relocation issues to the government.

LH Construction: “Seongname-city is supposed to purchase the land and relocate the market there. We are not involved with that issue.”

The City of Seongnam is reviewing the Moran Market relocation issue, but the relocation cost is one hundred billion won. (USD $90million) Because of the huge cost, the market that has existed for half a century is in danger of disappearing into history.