Private Participation in Infrastructure Projects in the Republic of Korea

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dc.creatorNoumba Um, Paul
dc.creatorDinghem, Severine
dc.date2012-06-20T22:08:40Z
dc.date2012-06-20T22:08:40Z
dc.date2005-09
dc.date.accessioned2026-07-01T01:29:46Z
dc.descriptionIn the aftermath of the 1997 East Asian financial crisis, the government of the Republic of Korea published a Private Participation in Infrastructure (PPI) Act to remove the main impediments to private investment in infrastructure sectors. The implementation of the Act was followed by a steady increase in the number of PPI projects, thus spurring the modernization of the main infrastructure facilities in transport, water, electricity, and telecommunications. Despite this progress, the Korean PPI market still faces critical challenges that are probably related to its nascent stage of development. The market is dominated by five construction and engineering firms, but lacks world-class project developers. At the same time, the procurement of PPI projects takes on average four years, and competition in tenders is limited. The number of unsolicited proposals is abnormally high, whereas the number of solicited proposals remains flat. The participation of foreign firms is very limited despite the size of the market and the number of projects awarded. Although local financing is available, the maturity of financing instruments does not exceed five years for most corporate papers, and 10 years for government bonds. This paper reviews the procurement of PPI projects in Korea and benchmarks it to international best practices before proposing options for its improvement.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2005/09/6246670/private-participation-infrastructure-projects-republic-korea
dc.identifierhttps://hdl.handle.net/10986/8606
dc.identifierhttps://doi.org/10.1596/1813-9450-3689
dc.identifier.urihttp://hdl.handle.net/123456789/418613
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3689
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectASSETS
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectBID
dc.subjectBIDDERS
dc.subjectBIDDING
dc.subjectBIDDING DOCUMENTS
dc.subjectCENTRAL GOVERNMENTS
dc.subjectCITIES
dc.subjectCOMPETITIVE BIDDING
dc.subjectDEBT
dc.subjectDECISION MAKING
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC OUTCOMES
dc.subjectECONOMICS
dc.subjectELECTRICITY SERVICES
dc.subjectEMPLOYMENT
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectFINANCING SOURCES
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN INVESTORS
dc.subjectGARBAGE COLLECTION
dc.subjectHOUSING
dc.subjectINNOVATIONS
dc.subjectLATIN AMERICAN
dc.subjectLEGISLATION
dc.subjectLOCAL GOVERNMENT
dc.subjectLOCAL GOVERNMENTS
dc.subjectMATURITY
dc.subjectOPEN AUCTIONS
dc.subjectPACIFIC REGION
dc.subjectPENALTIES
dc.subjectPOLICY RESEARCH
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATIZATION
dc.subjectPROGRAMS
dc.subjectRADIO
dc.subjectRATE OF RETURN
dc.subjectREGULATORY FRAMEWORK
dc.subjectRISK SHARING
dc.subjectSEWAGE
dc.subjectSTATE ENTERPRISES
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTELECOMMUNICATIONS
dc.subjectTENDERS
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectWATER SUPPLY
dc.titlePrivate Participation in Infrastructure Projects in the Republic of Korea

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