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Public-Private Partnerships System in Korea

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Frame of Image th, government can take PPP as a financial option to fill the infrastructure gap timely.
 Efficiency Gain
  

Increase ‘Value for Money’ by utilizing efficiency of private sector Minimizing LCC (Life Cycle Costs) by integrating DBFO (Design-BuildFinancing-Operation) into a single contract Little possibility of cost and time overrun (Optimism Bias) Competition between public and private parties (e.g. national highway & public housing)
 Quality Service
 
Private operators tend to be more responsive to preference of consumers A fraction of government payment is subtracted as a penalty when operators do not meet pre-specified output quality
 Reform the Public Sector
 
Competition between public and private parties (market testing) Provide expertise and experience not readily available in public agencies
3
Expanded Fiscal Space by PPP
B/C R/E 1.5 A B
White bar = B/C; Shaded bar = R/E
C D E E F G H I J K L M
1.0
0.5
Amount
Govt Budget Infra Gap By implementing A and D thru PPP, government can allocate saved resources to E and F.
4
What is PPP?
 Literature currently does not offer single definition, however widely agreed definition exists

The European Investment Bank “relationships formed between the private sector and public bodies often with the aim of introducing private sector resources and/or expertise in order to help provide and deliver public sector assets and services.”


The Asian Development Bank “arrangement where a private party delivers infrastructure s


Full Text
Title Public-Private Partnerships System in Korea
Similar Titles
Material Type Proceedings
Author(English)

Hyeon Park

Author(Korean)

박현

Date 2013
Event

Korea-Singapore Joint Training on Senior Executive

Pages 50
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Direct Investment
Holding KDI School of Public Policy and Management
Venue Seoul, Korea