What keeps urban areas from declining? Comparison of before and after effects of the urban regeneration project for the Busan city in South Korea

Abstract

This study aims to comparing the degree of change in the decline index and finding out the variables that influenced this through a regression model (OLS) focused on the 21 urban project sites in Busan city. The comparison of urban decline index was analyzed based on normalized population, industry, and physical indicators. On the OLS model, this urban decline indicator was set as the dependent variable, and the independent variables were set as the project area size, project budget, project type, population size, major urban infrastructure access, and transportation (Subway station) access. As a result of the study, it was found that the degree of improvement in urban decline in the outlying areas away from the center of the city was higher than that in the areas where the old downtown was concentrated. In the regression model I, in which only endogenous variables were input, it was significant that the higher the project budget, the higher the degree of urban regeneration improvement. In Model II, which included both endogenous and exogenous variables, transportation access was derived as the only variable in increasing the degree of urban regeneration improvement. The results of this study are expected to contribute significantly to the monitoring of urban regeneration projects and to establish macro- and micro-directions of urban regeneration projects for urban sustainability (see Table 9).

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