Abstract
The purpose of this study is to identify the structural causes of the decline of the old town due to the development of new towns, and to seek policy alternatives for urban regeneration. For this purpose, the case of Gwangyang city was analyzed using Alfeld’s Urban1 model. The analysis found that the most effective policy for maintaining the population in the old town was to promote demolition of aging businesses and to delay housing demolition. In general, promoting demolition of housing is considered an effective means of bringing in populations by increasing business locations and jobs. In the case of Gwangyang City, however, the demolition of old homes further raises housing prices in the face of the influx of population. This suggests that extending life of a houses through remodeling or repairing aging houses may be a more effective alternative than promoting house removal. This suggests that urban regeneration should be made in a manner appropriate to urban conditions depending on the circumstances of the city.
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