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Infrastructure development in Korea

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Frame of Image g of the economy and society.  Sometimes used interchangeably with SOC (social overhead capital)  Infrastructure = umbrella term for many activities referred as SOC both encompass activities that share technical features (economies of scale) and economic features (spill-over from users to non users). (World Bank, 1994)
 Economic vs. Social Infrastructure

Economic Infrastructure: economic activities.

 
facilities
essential
for
day-to-day
Transport facilities (roads, rails, airports and seaports) Utility networks (for water, sewage, electricity, telecommunication, etc.) Industrial parks
Schools, hospitals, libraries, prisons, and social welfare facilities

Social Infrastructure: facilities essential for the structure of society.

2
Characteristics of Infrastructure
 The characteristics of infrastructure
   
Promote and support economic development indirectly Multiple objectives - efficiency, equity, and sustainability Lumpiness and huge capital requirement Scale economies and monopolistic supply
 For these reasons, infrastructure development has been regarded as a public sector’s role
3
Classification of Infrastructure
 By function


World Bank (1994)  Public utilities: electricity, telecommunication, water supply and sewerage, solid waste management, and gas  Public works: road, dam, and irrigation  Other transport sector: intra- and inter-city rail, urban transport, port, canal, and airport Bureau of Statistics of Korea (National Wealth Survey)  Transp


Full Text
Title Infrastructure development in Korea
Similar Titles
Material Type Proceedings
Author(English)

Park, Hyeon

Publisher

[Seoul]:University of Seoul

Date 2015-06
Pages 53
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding University of Seoul; KDI School