Territorial assets have become an effective means to an alternative regional development strategy. Despite globalization, the importance and competitive advantages of territorial assets have increased because of their territorial embeddness and charac...
Territorial assets have become an effective means to an alternative regional development strategy. Despite globalization, the importance and competitive advantages of territorial assets have increased because of their territorial embeddness and character of ‘not being substituted’.
There exist many local governments in Korea which are possessing competitive territorial assets enabling to create income and jobs. Unfortunately they are not acquainted with the way to develop and utilize territorial assets because they hardly have paid any attention to developing and utilizing them. Therefore a variety of territorial assets have not been utilized and their full potentialities of regional development have not been cultivated.
In this context, the purpose of this study is to search for policy recommendations and measures for developing and utilizing territorial assets.
This study, especially, focuses on drawing some useful instruments with which local governments can apply to their regional peculiarities. This study consists of six chapters where Chapter 1 describes the background, objectives, methodology, and scope of this study.
Chapter 2 discusses the theoretical bases upon which the development and utilization of territorial assets can found, composed of three parts. In the first part, the concept of territorial assets is defined and their characteristics are discussed in detail. The second part discusses the meanings and effectiveness of territorial assets in regional development. The four types of territorial assets development and utilization are operationally categorized in the last part, and their features and processes are described in a concrete fashion.
Chapter 3 attempts to analyze the status quo associated with territorial assets development and utilization of local governments in Korea, and to examine the institutional framework circumscribing territorial assets development and utilization. For those analyses, representative successful cases within each 4-types are selected from which common features - those exemplified by the selection of creative and originative territorial assets, leadership and delicate planning of development and utilization, the development of various programs and products for the selected territorial assets, and cooperation with partnership have been extracted out. On the contrary, there also exist some problems including an incomplete investigation of territorial assets, the less adoption of one-territorial asset source with multi-use approaches, and the shortage of brand and artifacts development.
With regard to the effectiveness of policy and institution provisions for development and utilization, the following important problems turned out to be obvious; 1) no effective institutional means to support the utilization of territorial assets, 2) lack of entrepreneurship in local governments, 3) intellectual right protection-oriented utilization, 4) underutilization of cultural and environmental territorial assets, 5) no concerns about territorial assets utilization and development considering their category and procedure.
Chapter 4 investigates foreign cases including Japan, Europe, and the United States of America. Meaningful policy implications are drawn from them, encompassing the selection of differentiated strategy on the basis of place-specific assets, the close examination and competitive evaluation of territorial assets, the provisions of consulting with territorial assets utilization from central government, local government initiatives in territorial assets development and utilization.
Chapter 5 suggests policy directions and strategic measures for the development and utilization of territorial assets. This chapter consists of three parts, mainly in the respect of policy directions, policy measures basing upon the categories and procedures related to the development and utilization of territorial assets, and the improvement of legal and institutional system. It is stressed here that four factors, including the creative development and utilization of territorial assets led by local governments and supported by central government, the detailed local and national survey of territorial assets as well as a close evaluation of their competitiveness, the database construction of territorial assets, the full-commodification of territorial assets, cooperation among various actors, and an enactment of the promotion of territorial assets development - would become most critical in utilizing territorial assets for regional development.