지역경제 활성화와 지방 공기업의 역할

Vitalization of Regional Economy and the Role of a Local Public Enterprise: A Case Study of the Kyongbuk Tourism Development Corporation

This paper examines the role of a local public corporation in vitalization of regional economy, especially of Gyeongju's tourism industry. The study focuses on the managerial performance of the Kyongbuk Tourism Development Corporation(KTDC) and shows that it failed to gain positive economic profit and to achieve managerial efficiency. The main reason for the inefficiency incurred by the local public firm can be found in moral hazard resulting from the multiple principal-agent problem. The KTDC is urged to make efforts in restructuring personnel system, reducing operating costs by outsourcing, finding new profit sources, and upgrading specialty of the employees. To revitalize the local tourism industry, the KTDC should make planned investment as scheduled in developing the Bomun and Gampo tourism resort. Since the KTDC is the public enterprise, it also should take responsibility of making a contribution to the local economy along with considering public interest. The paper suggested the ways to stimulate the Gyeongju's tourism industry, especially centering on the Bomun tourism resort.