Public-Private Partnerships in Republic of Korea: Experience and Results
The Republic of Korea came to realize the acute necessity of launching the public-private partnership (PPP) at the turn of the 90s, the country happened to fall short of such infra facilities as roadways, railroads, sea ports and airports and the government found itself unable to fully finance their...
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MGIMO University Press
2015-06-01
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| Online Access: | https://www.vestnik.mgimo.ru/jour/article/view/372 |
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| author | Lee Jae Sung |
| author_facet | Lee Jae Sung |
| author_sort | Lee Jae Sung |
| collection | DOAJ |
| description | The Republic of Korea came to realize the acute necessity of launching the public-private partnership (PPP) at the turn of the 90s, the country happened to fall short of such infra facilities as roadways, railroads, sea ports and airports and the government found itself unable to fully finance their construction works. Although the PPP institutional framework started to get purposely and mostly formed in the first half of the 90s in Korea the PPP itself actually came into occasional practice even before, owing to some legislation, covering roadways and sea ports. There are four main stages to be noted in the development of PPP, consecutively ranging from 1968 to 1994, from 1994 to 1999, from 1999 to 2004 and since 2005 till now. The PPP periods are much related to various amendments to the basic PPP law, initially adopted in August 1994 as the Act on Promotion of Private Capital Investment in Social Overhead Capital which was transformed into the Act on Private Participation in Infrastructure (briefly called the PPP Act) in December 1998. Along with this Act, Korea's PPP institutional basis currently laid by the Enforcement Decree of the Act on Public-Private Partnerships in Infrastructure, the PPP Basic Plan and the PPP Implementation Guidelines. It is the PPP Act that determines 49 types of PPP project-eligible infra facilities, categorized into 15 groups such as roads, railroads, ports, airports, communications, water resources, energy, environment, forestry, logistics, welfare, public housing, military housing, education, culture/tourism. In the aspect of the globally-recognized types of PPP procurement methods, the PPP Act primarily determines the use of such mechanisms as BTL, BTO, BOT, BOO. |
| format | Article |
| id | doaj-art-b11f5626b9164d068abb149525b526a3 |
| institution | Kabale University |
| issn | 2071-8160 2541-9099 |
| language | English |
| publishDate | 2015-06-01 |
| publisher | MGIMO University Press |
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| spelling | doaj-art-b11f5626b9164d068abb149525b526a32025-01-30T12:16:13ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992015-06-0103(42)21722410.24833/2071-8160-2015-3-42-217-224372Public-Private Partnerships in Republic of Korea: Experience and ResultsLee Jae Sung0Moscow State Institute of International Relations (University)The Republic of Korea came to realize the acute necessity of launching the public-private partnership (PPP) at the turn of the 90s, the country happened to fall short of such infra facilities as roadways, railroads, sea ports and airports and the government found itself unable to fully finance their construction works. Although the PPP institutional framework started to get purposely and mostly formed in the first half of the 90s in Korea the PPP itself actually came into occasional practice even before, owing to some legislation, covering roadways and sea ports. There are four main stages to be noted in the development of PPP, consecutively ranging from 1968 to 1994, from 1994 to 1999, from 1999 to 2004 and since 2005 till now. The PPP periods are much related to various amendments to the basic PPP law, initially adopted in August 1994 as the Act on Promotion of Private Capital Investment in Social Overhead Capital which was transformed into the Act on Private Participation in Infrastructure (briefly called the PPP Act) in December 1998. Along with this Act, Korea's PPP institutional basis currently laid by the Enforcement Decree of the Act on Public-Private Partnerships in Infrastructure, the PPP Basic Plan and the PPP Implementation Guidelines. It is the PPP Act that determines 49 types of PPP project-eligible infra facilities, categorized into 15 groups such as roads, railroads, ports, airports, communications, water resources, energy, environment, forestry, logistics, welfare, public housing, military housing, education, culture/tourism. In the aspect of the globally-recognized types of PPP procurement methods, the PPP Act primarily determines the use of such mechanisms as BTL, BTO, BOT, BOO.https://www.vestnik.mgimo.ru/jour/article/view/372public-private partnership in koreappp institutional frameworkppp project-eligible infra facilitiesppp enhancement system |
| spellingShingle | Lee Jae Sung Public-Private Partnerships in Republic of Korea: Experience and Results Vestnik MGIMO-Universiteta public-private partnership in korea ppp institutional framework ppp project-eligible infra facilities ppp enhancement system |
| title | Public-Private Partnerships in Republic of Korea: Experience and Results |
| title_full | Public-Private Partnerships in Republic of Korea: Experience and Results |
| title_fullStr | Public-Private Partnerships in Republic of Korea: Experience and Results |
| title_full_unstemmed | Public-Private Partnerships in Republic of Korea: Experience and Results |
| title_short | Public-Private Partnerships in Republic of Korea: Experience and Results |
| title_sort | public private partnerships in republic of korea experience and results |
| topic | public-private partnership in korea ppp institutional framework ppp project-eligible infra facilities ppp enhancement system |
| url | https://www.vestnik.mgimo.ru/jour/article/view/372 |
| work_keys_str_mv | AT leejaesung publicprivatepartnershipsinrepublicofkoreaexperienceandresults |