The purpose of this study was to see whether history cultural values, including modern cultural heritage, and citizen participation behavior to preserve them would increase urban regeneration competitiveness and achieve urban regeneration performance. We also sought to see whether urban regeneration competitiveness plays a mediating role between history cultural values, citizen participation behavior, and urban regeneration performance. The survey targets were centered on history cultural tourist destination including 9 modern cultural heritage sites scattered in Changwon City, and a sample was selected from the MZ generation(20s and 30s) who had experience visiting these tourist sites. The survey period was from September 15 to 29, 2023, and a total of 228 valid questionnaires were collected through individual interviews and used for the final analysis. Through hypothesis testing, it was confirmed whether the history cultural resources promoted through urban regeneration projects have cultural value, whether citizen participation behavior have important meaning, and whether these history cultural values and citizen participation behavior lead to urban regeneration competitiveness. In addition, it was confirmed whether history cultural value, citizen participation behavior, and urban regeneration competitiveness lead to urban regeneration performance. As a result of the analysis, it was found that there was a significant positive (+) effect between these variables. And as a result of verifying the mediating effect of urban regeneration competitiveness, history cultural value fully mediated, and citizen participation behavior partially mediated, and urban regeneration competitiveness mediated between history cultural value, citizen participation behavior, and urban regeneration performance. In particular, residents of history cultural tourist destinations viewed history cultural values as an important antecedent to urban regeneration competitiveness more than tourists from other regions. Therefore, in order to promote urban regeneration projects targeting history cultural resources, it is necessary to first confirm the competitive position of the city and devise a strategy to improve urban regeneration performance by strengthening citizen participation.