Abstract: Since designated as a hub city of Asian Culture by Korean Government in 2004, Gwangju has witnessed many urban regeneration projects in the last ten years. Those projects vary in terms of not only the size of area and the main character but the entity and the process of initiation and implementation, and the degree of civic participation. This study intends to examine the characteristics of urban regeneration projects in Gwangju initiated from early 2000s by comparison from a perspective of collaborative governance and public-private partnership in order to promote a vision for sustainable and smart urban regeneration. The aim of this study is to propose strategies and visions for construction of the urban governing regime by assessing urban regeneration projects and examining characteristics of governance to which has recently been paid attention in order to tackle the urban decline problems. For this study, first of all, the backgrounds and the needs of smart and sustainable governance for urban regeneration will be examined by reviewing the literature and making comparisons among various urban renewal projects in Gwangju. As a case study, we will investigate some applicable techniques for successful regeneration projects to a local city, Gwangju, and explore possible alternatives to apply systematic and smart governance strategies to the city for private-public partnership. In particular for an analytic study, the Analytical Hierarchy Process (AHP) method will be applied to the survey of experts' evaluation items and important factors. From this study, we will search the relationship between the main focus of governance based on private-public partnership and accountability and leadership of local government for implementation of regeneration strategies. In addition, we will examine the degree of importance of the organization of stable and permanent governance network. Also legal and institutional support as well as visions and passions of participants and stake-holders will be assessed as critical factors for smart and efficient governance based upon private-public collaboration.