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A Study on the Private Investment Projects in Korea and Japan: Policy Implications and Case Study

Abstract

The concept of public-private partnership to construct and operate infrastructure using private resources began from the Europe waterworks in the early 1930s and expanded to roads and railways. Private investment projects in Korea are declining, whereas Japan is increasing its business growth due to diversification of PFI. Korea and Japan have legal and institutional differences, such as the ways to select private investment projects, public sector investment, mandatory disclosure of information, status of public assistance and public funding assistance. Japan actively pursues policies for promoting private investment projects through adopting a consulting scheme and establishing infrastructure funds. However, Korea is relatively passive regarding the private investment projects. As a result of analyzing Private Finance Initiative(PFI) cases in Japan, Korea and Japan have differences in project types and ancillary․complex facilities.

This study recommends that Korea disclose information about public investment project as Japan does, to remove citizen’s distrust by vitalizing private participation. Also, Korea must support private investment projects of the local government by supporting manpower and operating platforms. Korea also must apply private investment projects to various facilities as Japan does. Last, Korea must determine how to modernize its outdated facilities using private investment projects.

 

Contents

01 Introduction

1_Background and Purpose of the Study

2_Research Methods and Expected Effect

 

02 Current Extent of Private Investment Projects in Korea and Japan

1_History of Private Investment Projects

2_History and Current Extent of Private Investment Projects in Korea

3_History and Current Extent of Private Investment Projects in Japan

 

03 Law and Institutional System of Private Investment Projects in Japan

1_Overview of Legislation

2_Legislation for Public Facilities Maintenance Using Private Funds

3_Guideline for Japan Private Investment Projects

4_Comparison of Japan and Korea on PFI Law and Institution

 

04 Policy of Private Investment Projects in Japan

1_Method of PFI

2_Concession in Japan

3_Strategy of PFI Application

4_Direction of PFI Policy

5_Comparison of Japan and Korea on Recent Policy

 

05 Case Study of Private Investment Projects in Japan

1_Review of Private Investment Project Case in Japan

2_Analysis of Private Investment Project Case in Japan

 

06 Implication of Seoul Private Investment Projects

1_Implication for PFI Law and Institution

2_Implication for Case Analysis

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