In the Nordrhein-Westfalen, Germany, there are approximately 3,500 industrial buildings under the cultural asset protection and management not only in the Ruhr-region but also state-wide. Unlike traditional cultural assets, industrial assets are closely tied with contemporary life in numerous ways, and have acted as a bridge between the traditional architectural buildings and contemporary architectural buildings, reflecting the overall economical, social and cultural portraits of that time. Reinvestigating them in a new light, granting just and fair values, and preserving and transmitting these modern cultural heritages is a method of preserving the historical and cultural traditions in order to keep own identity and integrity. Nowadays, however, due to various sprawling developments and new development-oriented urban policies, only a select few industrial assets are being protected, the rest facing demolition and damages. In order to better cope with such situation, Korea has officially introduced the Registered Cultural Properties System since 2001, and began acknowledging the historical values of industrial buildings as modern cultural properties. By systematic analysis and deduction of characteristics from successfully recycled precedents such Kueppers Mills at the Innenhafen Duisburg in the state of Nordrhein-Westfalen that have been preserved and recycled as cultural spaces, this paper aims to find and propose suggestions to rehabilitate and recycle the industrial cultural properties in Korea.