This paper studies the introduction of the project financing vehicle(PFV) to re-boost the Korean economy through project financing. Project financing is an advanced financial technique that can supply money by separating the project from the corporations in order to drive a large-scale project that needs to obtain high profit in the long-term.
The reason for needing PFV in Korea is because project financing has not been promoted well though businesses have bright prospects. This is due to the low credit ratings of businesses after the 1997 financial crisis. Project financing's vitality is particularly needed more as a device that supports the expansion of the social overhead capital(SOC), like housing construction, development of real estate, exploitation of resources, and road construction in the domestic and foreign economies.
This study outlines and introduces the PFV scheme. In addition, it offers a concrete plan regarding the requisites for implementation, business extent & asset operation, money borrowing & corporate bond issue, financing, tax support & control for the PFV. It also compares the PFV system to other financial systems like REITs, CRV, and ABS, therefore providing a framework for the PFV.
프로젝트 금융 투자회사법(가칭)제정 추진방향(Introduction of project financing vehicle(PFV))
|Series Title; No||정책조사보고서 / 2001-02|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Financial Policy|
|Holding||한국금융연구원; KDI 국제정책대학원|