In June 2015, the Act on Value Enhancement of Hanok and other Architectural Assets was introduced which became the basis for public management of architectural assets. The current measures for conserving and utilizing architectural asset are focused mainly on improving the physical conditions of individual buildings or providing financial subsidies for construction activities. However, these policies that only focus on the physical aspects require continuous financial support and are heavily dependent on voluntary participation of building owners. Without their voluntary actions, the policy measures are limited in their implementation. Due to limited public resources, it is difficult to expand the conservation and utilization of architectural assets in meaningful measures. In addition, the current policy mostly takes the form of a public-led, top-down approach and it is difficult for a supplier-led policy to effectively respond to local problems.

In order to overcome the limits of the public-led approach that targets individual building assets, a community-based solution of local issues has emerged in recent times. In this study, a community-led assetization strategy is proposed as an alternative method to conserve and utilize architectural assets. The proposal is for a sustainable structure in which the local community capacity may be enhanced based on the inherent values of its architectural assets and their contribution to local identity. The study aims to propose architectural asset conservation and utilization improvement measures to the current legislative systems so as to make them community-led and sensitive to local conditions.