Issue Focus

● The urban regeneration project was started in 2013 with the goal of ‘revitalizing declining cities’. However, the urban regeneration projects so far – ‘first-generation urban regeneration’ – are generally evaluated as having failed to achieve the policy goal. ● The purpose of this study is to look back on the urban regeneration projects of the past 10 years, evaluate the achievements and limitations, diagnose the causes of insufficient performance, and explore future urban regeneration policy directions. ● This study cited ▷ lack of policy effectiveness, ▷ lack of continuity after the end of public funding, and ▷ lack of participation and investment by the private sector (businesses, residents, etc.) as the limitations of 'first-generation urban regeneration'. The fundamental causes of this problem are: ▷ confusion about the concept and policy goals of urban regeneration, ▷ wrong institutional design related to urban regeneration strategies and approaches, ▷ wrong project contents, ▷ wrong understanding of publicity and profitability, the role of the public and private sector, ▷ Resident participation and community-related institutional design were cited as lacking in reality. ● Based on the diagnosis of the cause of the problem, this study argues that the urban regeneration project in Korea needs a comprehensive restructuring at the reset level. The main contents are as follows.