Economy of Mokpo

In modern scope, before Hadang area was built, every single function of the city became concentrated on the original downtown from cultural facilities to commerce. However, the large residential area was built in Yeonsan dong while the construction of Hadang was finalized in 1999 to bring about up-to-date fashioned streets with huge spill of population. As the faculty of original downtown has mostly disappeared for many of merchant houses moved to Hadang or shut down, city congress formulated the order for supporting the old downtown. The outward flow of people has been so enormous that the gap between former and letter has not been decreased.

For more than a century, the commercial power of the city has concentrated on Mokpo station and several markets nearby. The sole department store was closed within 1997 Asian financial crisis with several movie theatres shut, too. The dominance of economic power has been notably imbalanced by opening of Lotte Mart (2001) and E-Mart (2002).