Abstract
The preservation of historic buildings, based on economic value, has long been discussed in developed countries. On the other hand, in Korea, where the history of preservation is relatively short, discussions have only recently started. Related to this, a discussion regarding the scope of buildings that need to be protected in relation to urban planning is needed. This study analyzes the Jeonju Hanok Village, a tourist destination where Hanok—the traditional Korean architectural type—is highly concentrated. The study provides evidence for the economic impact of historic building preservation with respect to rarity, experience and agglomeration, based on the price analysis of accommodations. As a result, the accommodation prices of Hanok were found to be higher despite being older. The relation between accommodation prices and building age was quadratic, which revealed that buildings that have become rare attained accommodation prices similar to new buildings. Also, it was found that the prices increased with the provision of traditional activities and meal services. Lastly, the price was higher in the area where Hanok was agglomerated. The results suggested that the preservation of buildings should not only be justified on cultural grounds but also economic grounds, based on market demand and the fact that such preservation could contribute meaningfully toward sustainable development.
Highlights
The preservation of historic buildings has an important meaning because it has historicity from our ancestors’ culture and provides historical spaces for future generations
This study investigated the effect of building preservation on the urban economy by examining the accommodation prices of lodging facilities in Jeonju Hanok Village, a representative area of the historical and cultural district in Korea
The study identified the value of historic building preservation in cities based on rarity, opportunities of experience and agglomeration
Summary
The preservation of historic buildings has an important meaning because it has historicity from our ancestors’ culture and provides historical spaces for future generations In this sense, the issue of preserving historic buildings has influenced the recent urban planning policies of local governments in Korea, extending beyond the act of designating national cultural properties. Many East Asian cities, including Korea, have a relatively short history of building preservation, and old buildings are perceived as deteriorated buildings that need to be renovated, while new buildings are considered more convenient and the only pursuable option for consumers Such perceptions stem from doubting the architectural quality of buildings constructed during the rapid urbanization period of the mid-20th century, when sufficient planning measures were absent. The study provides urban planning implications based on the findings
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