In the first half of the 19th century, markets in Seoul developed together with foreign fabrics distributed. The economic size of private sector was much bigger than that of governmental sector in the first half of the 19th century. The expansion of market economy changed people’s recognition for market. They considered that price control by intervention of the government causes a lot of side effects, recognizing that the best policy was relying on the market principles of supply and demand for prices. The government’s noninterference market policy made exclusive commerce of free merchants[私商] prevalent because private merchants gained an advantage over Sijeon (licensed shops) merchants in terms of capital and organizational power. In 1837, the government allowed foreign fabrics to be freely distributed. (Jeongyugyeolcheo-丁酉決處) Accordingly, Myeonjujeon that sold domestic silk fabrics declined gradually.
After the opening of a port, markets in Seoul developed through reinforced connection with markets in Incheon port. The inflow of foreign goods into Seoul markets focusing on fabrics severely damaged Myeonju-jeon[綿紬廛]. Myeonju-jeon barely survived by selling silk fabrics to the government or a royal family. However, Myeonju-jeon was degraded as a very small shop with only one sales person and ten thousands of debt when Myeonju-jeon couldn’t get appropriate prices from the government because of the downhill of governmental finances.