The Seoul Metropolitan Government is expanding New Forms of Public–Private Partnership (PPP) Projects, shifting from traditional road- and rail-oriented investments toward community-based, lifestyle SOC facilities. In 2024, Seoul introduced the nation’s first Co-creation PPP Model, in which the public sector provides land and the private sector proposes project ideas, marking an important shift in PPP project discovery.
A review of Seoul’s PPP portfolio shows that although projects such as MICE complexes, K-pop venues, gondolas, senior housing, and mixed-use public buildings are being explored, many remain stalled at the feasibility stage. Major obstacles include complex procedures, duplicated reviews across legal frameworks, low financial viability, and limited experience with service-oriented PPP models. A survey of public officials confirms these challenges, identifying procedural complexity, expected low returns, and weak private-sector participation as key barriers. Respondents noted that current evaluation systems do not adequately reflect the operational features of lifestyle-oriented facilities.
To address these issues, this study proposes that Seoul establish a Comprehensive Master PPP Plan. The plan should classify public assets into disposal, retention, fiscal investment, and PPP assets, and provide a structured process for identifying and evaluating candidate projects based on local service needs. Such a framework can improve asset portfolio management, ease fiscal pressures, and expand lifestyle SOC provision.
Three strategic directions are suggested for activating new-form PPP projects. First, procedural efficiency is needed through eliminating duplicated reviews and applying simplified evaluation methods for small-scale and lifestyle SOC projects. Second, profitability enhancement should be pursued by promoting ancillary revenue opportunities and bundled project structures. Third, expansion of new PPP models is needed through incentives for site-solicitation projects and unified governance for mixed public land.
Effective implementation requires stronger institutional capacity, including a dedicated PPP management unit within the Seoul Metropolitan Government and enhanced professional support from the Seoul Public Investment Management Center.