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Public-Private Partnership (PPP) units and the urgency for public infrastructure provision : Korea's experience

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  • Public-Private Partnership (PPP) units and the urgency for public infrastructure provision
  • Saiful, Islam
  • Hosei University


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Title Public-Private Partnership (PPP) units and the urgency for public infrastructure provision
Similar Titles
Sub Title

Korea's experience

Material Type Articles
Author(English)

Saiful, Islam

Publisher

[Tokyo, Japan] : Hosei University

Date 2014-03
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < General
Economy < Economic System
Holding Hosei University
License

Abstract

The public infrastructure provision is not provided solely by the public sector, it also involves the private sector. A business relationship between a private-sector company and a government agency for the purpose of providing public infrastructure is typically referred to as a Public-Private Partnership (PPP). In the global arena, the private sector’s contribution to a PPP program has increased signficantly, although the PPP concept is still developing and has some issues that still must be addressed. Major issues of a PPP consist of, but are not limited to, the capacity of both parties, legal and institutional arrangements, and financial-administrative implementation. There is an urgent need for PPP units to be designed in order to address government failures. In addition, the PPP program must be supervised. The PPP Unit in Korea, referred to as the Public and Private Infrastructure Investment Management Center (PIMAC), has led to improvement of the PPP program and contributed to national economic growth.