Merchants at Bujeon Market in Busan do not need to stop their business to visit a bank. At 7 a.m., staff from Bujeon 1-dong Saemaul Geumgo visit their stores in person to collect the previous day's accumulated sales cash. During holidays, the fund opens even on days off, and on ordinary days it handles everything from free legal consultations to installing market information signs. Having operated for 47 years in the heart of the market, Bujeon 1-dong Geumgo has established itself as a base for supporting merchants' daily lives, going beyond a simple financial counter.
Bujeon Market is packed with approximately 2,200 stores selling vegetables, fruits, seafood, and food, among others. As one of the largest traditional markets in the Busan and South Gyeongsang region, it sees active cash transactions from dawn. Considering the nature of merchants who find it difficult to leave their stores for long, Bujeon 1-dong Geumgo has continued its visiting cash-collection service for decades.
During peak seasons such as Seollal (Lunar New Year) and Chuseok (Korean Thanksgiving), staff work rotating shifts even during the holidays. This is to ease the burden on merchants who would otherwise have to store cash and Onnuri gift certificates accumulated from holiday sales in their stores for extended periods. When necessary, they also exchange cash and coins. Choo Yeon-jong, chairman of Bujeon 1-dong Geumgo, explained, "During holidays, far more cash and gift certificates come into the market than usual. So that merchants can focus on their business without worrying about storing cash, our staff come out to handle the work even on days off."
The close-contact service has led to high usage results. Although more than 10 financial institutions, including commercial banks and mutual finance firms, are clustered nearby, an average of 200 to 300 customers visit Bujeon 1-dong Geumgo each day. During peak season, daily visitors rise to as many as 600. Its automated teller machine usage is also among the highest of all Saemaul Geumgo branches in the Busan area, and its Onnuri gift certificate collection record ranked third among all funds nationwide.
Its size has also grown steadily. After surpassing 160 billion won in assets in 2019, it exceeded 200 billion won in 2022. As of the end of last year, its assets stood at 226.8 billion won, with 4,144 members. Its loan-to-deposit ratio, which was 52% in 2020, rose to 75.4% last year.
It has also stepped in to resolve merchants' inconveniences in non-financial areas. Recognizing that many visitors asked about the locations of community centers, the district office, and financial institutions within the market, it installed information signs at three major intersections. It lends part of the fund's hall to the merchants' association as an office, and provides its meeting room free of charge when Onnuri gift certificate refund events are held.
Considering the shortage of public restrooms given the market's characteristic of heavy foot traffic, Bujeon 1-dong Geumgo has made its restrooms available for residents and visitors to use. "There are difficulties such as the burden of management and repair costs and frequent breakdowns, but we make an effort to keep them open and clean so anyone can use them comfortably," Chairman Choo said. "It is a small consideration, but it provides practical help to the residents and customers who visit the market."
It has also created a space for local residents' leisure. In 2024, the fund remodeled its own hall and opened singing classes, line dancing, and folk painting courses. Designed to help merchants and members relieve stress after finishing their business, some of the classes have gained such a response that it is hard to find an empty seat.
It also contributes 10 million won to scholarship programs every year. Last year, in recognition of such sharing activities, it was named an "ESG Sharing Company" selected by the Community Chest of Korea's Fruit of Love. In April this year, it launched an ESG volunteer corps involving its executives and staff and began environmental cleanup activities in the Bujeon Market and Bujeon 1-dong areas.
"The achievements of our fund are the result of market merchants and customers trusting the fund not as a mere financial institution, but as a reliable local partner they can turn to at any time," Chairman Choo emphasized. "We take pride in being the fund that is closest to the field and the first to resolve members' inconveniences."
