The most important objective of the national development policy in Korea is the balanced regional development through the mitigation of concentration to the Capital region and the further development of other regions. Although various national policies have been formulated so far, the consequences of such policies for the balanced regional development have been unsatisfactory. This paper attempted to estimate regional growth factos through regression method. According to the results of this study, the differentiated regional policy for promotion and regulation to the location of firms and colleges and technological development have been operated only partially but not comprehenisively nor systematically. Especially, much of financial assistance has not been differentiated regionally. This study is expected to contribute to the formulation of the rational regional policy in future.