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Public institutions in Korea

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  • Public institutions in Korea
  • 공공기관연구센터
  • Korea Institute of Public Finance


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Title Public institutions in Korea
Similar Titles
Material Type Reports
Author(Korean)

공공기관연구센터

Publisher

Seoul,South Korea : Korea Institute of Public Finance

Date 2016-10
Pages 56
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Government and Law < Governance
Holding Korea Institute of Public Finance
License

Abstract

Public institutions are funded, invested or financially supported by the government to deliver a public or government service, though not as a ministerial department, state or local government. There are various types of public institutions, from those whose businesses are as commercial as private enterprises, to those that function as government agencies. Such characteristics nay vary depending on each institution’s roles and financial structure. In general, public institutions deliver public goods and services on behalf of the government while they overcome the operational constraints of government agencies. In doing so, public institutions have made various contributions to the national economy through various activities. They help facilitate economic development, by venturing into new markets which private enterprises find it difficult to enter. They operate as natural monopolies to supply public goods and services at and affordable price. They build and maintain public infrastructure(SOC) such as roads, railroads and airports that form the basic foundations of economic growth and industrial development.