A comprehensive redevelopment project at the Gwangju Comprehensive Bus Terminal, set to include a department store, bus terminal, and residential facilities, has left several traders at the terminal facing displacement. As reported on the 17th, Kumho Express plans to sell the terminal for 470 billion won to Shinsegae Gwangju by July 2024. The agreement outlines that existing leasing contracts with traders will be switched to subleasing agreements, a move that has sparked backlash from vendors who claim they were unaware of any redevelopment when they signed their leases.

Traders argue that when they initially entered into leasing agreements with Kumho Express, they were not informed of impending development plans, a fact that violates South Korea's Commercial Building Lease Protection Law, which allows for a maximum of ten years of lease renewal rights. According to the law, landlords can only refuse renewal if they have provided tenants with detailed plans regarding demolition or reconstruction at the time of the lease signing. Many vendors contend that ongoing lease disputes and changing market conditions have been exacerbated by the reduction in foot traffic, following the demolition of a cultural center between the department store and terminal last year.

Despite the complaints from merchants, Kumho Express maintains that the overall operational situation is stable, disputing claims that displacement affects a significant number of traders. With an estimated daily foot traffic of 16,000 to 17,000 people at the terminal, the company asserts that business remains robust, even in the aftermath of COVID-19. However, as the redevelopment approaches, the potential for significant disputes and further economic impacts on the traders looms large, raising concerns about the future of small businesses in the rapidly changing landscape of Gwangju’s commercial environment.