Using an regional input-output(I-O) model, this study estimated the economic impact of traditional market revitalization project on the economy of Seoul. To this end traditional market related sectors were derived from transactions tables developed by Bank of Korea(2009) and their multipliers were calculated in terms of output, income, value added, and employment. Onsite surveys were also conducted for merchants in the Suyu traditional market to estimate sectoral revenues and margin. The results indicated that in 2010, the Suyu traditional market generated 7.8 billion Won of net output impact, 1.4 billion Won of net income impact, 3.3 billion Won of net value-added impact, and 123 net non-paid and full-time jobs throughout direct and indirect effects. These impacts exceeded 0.4 billion Won of initial investment by Korean government, indicating that the project was an economically successful project.