Taking note of the role played by local tourism governance as viewed from the tourist’s gaze, this study examined the effects of local tourism governance on the awareness of local tourism brand equity and local tourism attachment as perceived by tourists. This study also attempted to identify the role and importance of externally-expressed local tourism governance. In total, 439 samples were collected from tourists who had recently experienced local tourism in South Korea; these samples were analyzed using SPSS. The implications derived from the results of the analysis are as follows. First, regarding the effects that the operation of local tourism governance have on brand equity, it was identified that the factors of partnership and institutionalization had significant positive effects on both brand images and brand awareness, where the effect of partnership was the strongest, and where participation only had a significant positive effect on the brand images. Second, regarding the relationship between the operation of local tourism governance and brand equity, it was found that, from the viewpoint of tourists, the governance support system negatively affects brand equity. Lastly, as has been shown in previous studies, both brand images and brand awareness—which are two core sub-factors of local tourism-brand equity—had significant effects on local tourism attachment; of them, brand awareness played a stronger role in the formation of local tourism attachment. Future studies should examine the functional role of local tourism governance based on field investigations at multiple destinations, checking the actual effects of local tourism governance while focusing on the associations between the role of local tourism governance and actually measurable indicators, such as revitalization of the local industrial economy, increases in income, performance in terms of attracting tourists, and improved satisfaction with local tourism.