The traditional marketplaces in Korea had been fairly prosperous throughout the 1970s and 80s; however, they are gradually into the decline since the opening of domestic retail market and especially, the financial crisis resulted in IMF relief loan in 1997. Once reaching nearly a few thousands, the number of the traditional marketplaces has been reduced to merely 1,500. Accordingly, they are in the process of transformation in order to deal with the decline. “Anyang Central Market” the largest marketplace specializing in wholesale trades, has also been facing a crisis resulted from the external threats such as the economic depression, the emergence of mega-retailers as well as the internal problems such as run-down facilities,customer dissatisfaction, and conflicts among merchant organizations. In order to deal with this crisis they are proactively responding through the facility improvement and the management innovation with the aids of the central government and the municipality as well as the selfactive efforts and measures for service improvement. Although it seems certain that Anyang Central Market is in the right track to overcome the internal and external problems, it is also for sure that there still exist potential uncertainties and threats both internally and externally. Nonetheless, worthwhile are the efforts and measures.