Purpose: While the classification of local festivals of Korea may be diverse, if they are classified according to the relevant subject, they may be classified into the traditional culture, local specialties, people representing the region, new regional contents, and the contents related to national policies, etc. Based on the analysis of local festivals designated by the Ministry of Culture, Sports and Tourism, it is intended that the purpose of the tourism industry of the local government be further specified, and a plan for reorganizing the policies related to local fes-tivals of the local governments be explored. Methods: The criteria for the festivals announced by the Ministry of Culture, Sports and Tourism are the “culture, tourism and art festivals held by local residents, local organizations, and local governments for a certain period of time (2 days or longer) and attended by a large number of unspecified people. Specifically, they are cultural tourist festivals, special product festivals, cultural arts festivals, and general festivals. The current status of local festivals of Korea is analyzed by analyzing the number of festivals held by region. Furthermore, this study has analyzed the status of local festivals by period spanning from the period of central government: President Syngman Rhee to President Roh Tae-woo and from 1993 to the Park Geun-hye administration, which was the period of local autonomy. Results: Local festival of Korea demonstrates the economic functions of regional and national economic development, political functions of securing of the regional development and local government’s finance, and the so-cio-cultural functions in terms of enhancing the welfare of the people in whole, while demonstrating the fact that the tourism industry has developed at a very high level. The reason as to why such an excessive number of local festivals is held is considered to be related to the political issues of increasing the showcase administration and performance achievements of the heads of local governments and the members of local council. Conclusion: Currently, local festivals of Korea are faced with many needs of improvements including specializa-tion, economic feasibility, and evaluation. Considering the fact that the largest purpose of local festivals is to revitalize local economy and enhance image, it would be necessary to form a consultative body by and between local governments and seek a strategy for cooperation and coexistence rather than pursuing competition through the objective evaluation of the festivals which are held indiscriminately. Similar local festivals held by and between adjacent local governments ought to be integrated via co-hosting, etc., and in the case of the festivals with dis-tinct local characteristics, a way to create synergies ought to be explored through the consultation on the period of convening, etc. Furthermore, it will be necessary to develop and introduce a more scientific and objective method of evaluation criteria for the festivals, and based on which, explore a comprehensive plan of improvement to ensure that local festivals may be of practical assistance for the regional development by deriving accurate evaluation and improvement plans.