• Journal of the Economic Geographical Society of Korea
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• v.19 no.1
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• pp.51-67
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• 2016

Urban development-related growth in recent years has become a qualitative growth based on regional identity, rather than a hardware-based growth. For this purpose, strategic approaches to the value of cultural assets of the city are required for competitiveness of the city. In this paper, I seek a model for urban regeneration and regional development through empirical case studies of cultural assets and utilize the 'Seoul Fairy Tale Festival' in terms of strengthening regional competitiveness. By analyzing detailed elements of the 'Seoul Fairy Tale Festival' case, the hardware infrastructure, software and governance structures, diverse contentsware, ecosystem characteristics centered on the humanware, and circular structure was studied. As a feature of cultural assets, combined with the management of physical assets and operations of several programs, was the basis for creating a synergy effect of creating an identity for the region. In addition, it was confirmed the possibility of a regional-rehabilitation type of urban regeneration that is based on the expansion of existing facilities, and a regional-innovation type of urban regeneration that is based on a fusion of characteristics. This analysis is significant in terms of the possibility of large urban regeneration based on cultural assets associated with the festival, as well as physical assets and by combining various governance stakeholders for the festival, it can be concluded that it provided an indigenous virtuous cycle.