With at least 25 Korean businesses situated in the laneway or in its vicinity, Healeys Lane is known as the Koreatown of Melbourne,[3][4] and is also informally referred to as "Kimchi Lane" and "Kimchi Street",[5][6] with the lane attracting approximately 5000 patrons a day.[7] Healeys Lane's designation as Melbourne's Koreatown was formalised in September 2024, with Future Melbourne Committee passing a unanimous vote in 3 September 2024 to ratify the Koreatown precinct and to approve the installation of four 3-metre tall jangseung (traditional Korean totem poles) at the entrances of the lane.[8][9] The Consulate-General of the Republic of Korea in Melbourne will fund the production and installation of the jangseung, while the Melbourne City Council will cover the costs of project management and relevant approvals.[10] In collaboration with the Melbourne Korean Business Association (MKBA), the consulate-general is aiming for an official opening ceremony for the precinct in the first half of 2025.[11] Healeys Lane's designation as Melbourne's Koreatown sees it join Chinatown and the Greek Precinct as one of Melbourne's designated cultural precincts.[12]