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민간투자 도시철도사업의 최소운영수입보장 가치 산정에 관한 연구(Valuation of the Minimum Revenue Guarantee in the Urban Railway PPP Project)

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Title 민간투자 도시철도사업의 최소운영수입보장 가치 산정에 관한 연구(Valuation of the Minimum Revenue Guarantee in the Urban Railway PPP Project)
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Material Type Reports
Author(Korean)

김강수

Publisher

세종특별자치시:한국개발연구원

Date 2013-12
Series Title; No 정책연구시리즈 / 2013-06
ISBN 978-89-8063-791-1(93320)
Pages 67
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Territorial Development < Transport/Logistics
Holding KDI; KDI School

Abstract

In the revised Act on Public-Private Partnerships in Infrastructure on Dec. 31, 2000, Korea introduced a system that is designed to reduce traffic forecasting risk by guaranteeing the minimum revenue. Accordingly, large-scale PPP projects for road, railway, airport, environment and logistics infrastructure have been initiated including the option of the Minimum Revenue Guarantee (MRG). The MRG system has been indeed a significant contributor to the promotion of the large-scale Build-Transfer-Operate (BTO) projects, but the system has its own structural problem that the private concessionaire might try to intentionally overestimate the traffic flow.
This study is to calculate the economic value of the minimum revenue guarantee in the concession agreement of the ongoing OOO PPP urban railway project. (The rest omitted)