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1、PRIVATEPARTICIPATIONSYSTEMONPORTDEVELOPMENTPROJECTSChinSooLim,Ph.D.Director,Shipping,LogisticsandPortResearchCenterKoreaMaritimeInstitute,Seoul,Koreae-mail:cslim@kmi.re.krABSTRACTKoreaislocatedatthecenteroftheNortheastAsia,thefastestgrowingeconomyintheworld.According
2、totheNationalMasterPlanforKoreanPortDevelopment,totalcargovolumeandcontainerthroughputin2011areexpectedtobe1.5billiontonsand30millionTEUsrespectively,whiletheywere886milliontonsand10millionTEUsin2001.Tomeetthecargodemandin2011,US$29billionarerequiredtodevelopfaciliti
3、es(MOMAF2001-1).Asgovernmentbudgetwasinsufficienttodevelopallrequiredfacilities,Koreangovernmenttookaboldinitiativein1998tointroduce“thePrivateParticipationSystem”totheinfrastructuremarketasaleadingmeasureofthepublicsectorreformtherebyensuringthemoreefficientandtrans
4、parentinfrastructureprovisionsystemusingtheprivatesector’screativityandefficiency.Thisnewinitiativealsoaimedtomobilizeforeigninvestmenttotheinfrastructuresectorasmuchaspossibletoovercomeforeignexchangecrisis.Inthispaper,schemeandprocedureofthePrivateParticipationSyst
5、emofKoreawillbeintroduced.DifficultiesandproblemsinimplementingPPIsystemarediscussedandnewschemeconductingPPIprojectisrecommended.KeywordsPrivateParticipationsystem,BTO,BLT,incentives,constructionsubsidyINTRODUCTIONInfrastructurehastraditionallybeenapublicdomain,part
6、icularlyindevelopingcountries,partlyonaccountofitsperceivedstrategicimportancetotheeconomy,andpartlybecausethelargeinvestmentcostandlongpay-backperiods.Therefore,suchprojectswereusuallythoughttohaveconstitutedseriousdisincentivestoprivateinvestors.Recenttrendsinpriva
7、tizationofmajorinfrastructureprojectshaveshownthatthisisnolongerthecase.Privatefinanciershaveshownthemselvesabletomobilizenecessaryfundstofinanceinfrastructureprojectsandprivatesponsorsarewillingtoacceptbothprojectsandcountyrisks,providedthattheinstitutionalenvironme
8、ntmeetscertainminimumstandardsandtheprojectsareappropriatelystructured.Governmentsare11assistingthisprocessbycreatingnewopportuniti