Conservation or economization? Industrial heritage conservation in Incheon, Korea

•Industrial heritage conservation involves both adaptive re-use and the creation of cultural values of obsolete spaces.•The creation of cultural values of obsolete spaces is a prerequisite of establishing and retaining heritage values and sites.•Conceptual consistency and shared values need to guide objectives and methods of industrial heritage conservation.

Industrial heritage conservation advocates cultural, historical and economic significance of obsolete spaces and transforms them into viable places. Thus, it is often adopted in urban regeneration projects, which seek historic, esthetic and economic elevation of degenerated areas. Its policy domain has become multi-disciplinary. In this respect, to enrich a multi-disciplinary dialogue on conservation, this paper examines how a cultural policy project in Incheon, Korea, has dealt with industrial heritage. Specifically, it examines first, the processes through old spaces were rediscovered and institutionalized as heritage sites. Second, it investigates how the project has endeavored to keep balance between achieving cultural valorization and economic viability of obsolete spaces. The paper emphasizes that industrial heritage conservation involves not only adaptive re-use but also the creation of cultural values of obsolete spaces. The latter, especially, is a prerequisite to establishing and retaining heritage values and sites. If cultural initiatives that aim to create cultural values are operated as a tool for redevelopment and financial revenue-making, they might not play their best role in conservation. The paper concludes that conceptual consistency and shared values should guide public participation and conservation objectives and methods.