There is an increased concern about local economy among local autonomies with the embodiment of local governance system. As the era of popular local governance is set out, an individual local economy is being constructed centering around local autonom...
There is an increased concern about local economy among local autonomies with the embodiment of local governance system. As the era of popular local governance is set out, an individual local economy is being constructed centering around local autonomy which competitiveness and growth of the whole region has become highly dependent on the degree of competitive power of local autonomy. It indicates that local autonomies should make every effort in politics, administration, and economy to attain superiority in harsh competition, so-called economic war, while participating in regional development and local economic development using regional potential and all the economic resources with self-regulating will out of practice of dependence on a central government. Therefore, it is necessary to strengthen competitiveness of local industry relevant to regional siting conditions taking into account of the new environmental change of the 21th century. At the very moment of the transition of international economic environment into knowledge-based industrialization, it is imminent to diagnose actual problems which local economy of Ulsan is facing and to explore sustainable development plan to overcome the problems and to restore growth potential, Consequently, this research redefines local economy and the concept for its activation, on which fundamental directions of Ulsan regional economic promotion policy and development plan for continuing urban development are proposed.