• Korean Journal of Construction Engineering and Management
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• v.7 no.4 s.32
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• pp.118-125
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• 2006

The Korean government is encouraging positively PIP(private infrastructure project) to relieve financial burden and get the facilities in time. The portion of the PIP has grown rapidly into 15% of the whole SOC(Social Overhead Capital) projects. It is estimated that the growth will continue for the present. However, there are still rising problems on efficiency of the project and productivity, properness of the project scale are pointed against surprising growth. In this study, we analyze underlying problems of private infrastructure investment project and suggest CM Models to relieve the problems. To verify the validity of the suggested models, a survey has been conducted through questionnaires and analyzed the taste of the stakeholder. The owner-support Model is chosen as the practical model to apply in time. By applying the suggested model to PIP, it is possible to enhance the efficiency and productivity of the project.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.83-95
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• 2018

The aim of this paper is to develop a performance evaluation model for PPP (Public-Private Partnership) projects that appropriately reflects the important traits that are unique to PPP projects. To this end, 1) it defines a set of distinct perspectives involved in the PPP projects and their associated success factors that might differ amongst the perspectives; 2) it identifies the key performance indicators and suggests the performance evaluation criteria for each indicator; and 3) it builds a performance evaluation model by matching the success factors from each perspective with performance measure criteria as well as applies the model to the two selected BTO road projects in Korea. The process of model construction and its application confirms significant differences between the main stakeholder perspectives typically involved in PPP projects, which highlights the need for an evaluation model tailored for PPP projects by taking into account the distinct perspectives. The results from the PPP evaluation model developed in the study is compared against the results from the existing ex-post evaluation model for construction projects in general. The former shows a closer match with the results from the user satisfaction survey conducted. This new evaluation framework and the performance indicators entailed in it permits a balanced evaluation of PPP projects as it takes into account different perspectives involved in PPP projects as well as an understanding of the factors affecting the success of PPP projects. While the construction of the model is based on transport projects, it is applicable to different types of PPP projects through variation with the weight allocation amongst different success factors and/or additions or other adjustments to the performance evaluation criteria as required.

• Korean small business review
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• v.43 no.4
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• pp.173-209
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• 2021

Start-up accelerators are a new type of investor that provide mentoring, education and seed capital to start-ups for a fixed duration and receive a certain stake in them in return. They help start-ups achieve successful commercialization. With increase in performance visibility, the number of private and public sector accelerators rose across domestic and international markets. Private sector accelerators are established and operated by private entities while public sector accelerators are established and operated by the government. Both play complementary roles that are becoming increasingly important to start-ups. Therefore, this study aims to examine the differences in major operational goals and investment determinants between private and public sectors and to understand their implications. The results show that the private sector prioritizes profit generation through the investment, while the public sector aims to contribute to the development of high-growth start-ups, and create region-specific and technology-specific start-up ecosystems. Additionally, both groups consider customer needs the most important determinant. Public groups are more conservative in investments and tend to place importance on objective indicators such as patents, partners, mentors, and co-founders. Conversely, private groups value the capabilities of founders and their ease of collaboration with accelerators. These findings can help start-ups get support from public or private accelerators more easily. It will also help public and private accelerators refine the criteria for selecting start-ups.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.1D
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• pp.107-117
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• 2008

Private financing is playing an increasing role in public infrastructure construction projects worldwide. However, private investors/operators are exposed to the financial risk of low profitability due to the inaccurate estimation of facility demand, operation income, maintenance costs, etc. From the operator's perspective, a sound and thorough financial feasibility study is required to establish the appropriate capital structure of a project. Operators tend to reduce the equity amount to minimize the level of risk exposure, while creditors persist to raise it, in an attempt to secure a sufficient level of financial involvement from the operators. Therefore, it is important for creditors and operators to reach an agreement for a balanced capital structure that synthetically considers both profitability and repayment capacity. This paper presents an optimal capital structure model for successful private infrastructure investment. This model finds the optimized point where the profitability is balanced with the repayment capacity, with the use of the concept of utility function and multi-objective GA (Generic Algorithm)-based optimization. A case study is presented to show the validity of the model and its verification. The research conclusions provide a proper capital structure for privately-financed infrastructure projects through a proposed multi-objective model.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.523-529
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• 2017

This study analyzed the financial information between 2011 and 2014 comparing management performance and utilization of capital and human resources between private non-profit general hospitals and regional public hospitals operated as general hospitals. The purpose of this study was to enhance the productivity for financial independence of regional public hospitals. Comparison analysis variables were value added to the total assets, value added to the productive activity tangible fixed assets, value added to personnel expenses, ratio of value added, and operating margin to revenues. According to the analysis results, regional public hospitals showed lower investment efficiency indicator and higher ratio of value added, as well as significantly lower operating margin-to-revenues compared with private non-profit general hospitals. Moreover, the effect of investment efficiency indicators on operating margin-to-revenues was value added to the productive activity of tangible fixed assets and value added to personnel expenses in regional public hospitals; the value added to personnel expenses in private non-profit general hospitals had a significant effect on the operating margin-to-revenues, the effect of value added to personnel expenses was the greatest. Therefore, it is necessary to asset utilization to the revenue and propriety of human resources to personnel expenses in regional public hospitals.

• International Area Studies Review
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• v.13 no.2
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• pp.526-548
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• 2009

Foreign Direct Investment(FDI) has played a vital role in the economic growth of Pakistan. The objective of this paper is to review the literature on the Pakistan's FDI law and explore possibilities for research. We focus on the Foreign Private Investment (Promotion and Protection) Act 1976, Furtherance and Protection of Economic Reforms Act 1992, and Foreign Currency Accounts (Protection) Ordinance 2001. Major concern seems to be frequent change in policies, lack of follow up for effective implementation of the good decisions above all the law.

• Journal of Korean Society of Transportation
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• v.25 no.1 s.94
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• pp.49-59
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• 2007

This study has examined the allocation of risk in Korea's private provided Infrastructure(PPI) with the following contents (1) Developing a quantitative risk allocation model for Korea's PPI and (2) examining the implication of changes in the minimum revenue guarantees (MRG) clause of government legislation using the developed empirical model. The model of this study adopts and extends H. Yamaguchi's model developed in 2002. To investigate Korea's actual risk allocation deals, the author incorporated the MRG framework. The payment related to the MRG is indeterminable. Hence. the average MRG rate was calculated using probabilistic risk analysis. The risk allocation model is applied to the two eases to validate the model and evaluate the project's VFM(Value for Money). As the revenue guarantee rate is lowered, the government subsidies are increased. This in turn worsens VFM. The same relationship is true when the revenue guarantee Period is shortened.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.189-200
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• 2017

본 연구는 국내 지역R&D투자와 지역경제지표 간의 관계를 파악하기 위한 것이다. 연구 방법은 패널VECM을 사용하여 1995~2014년 국내 17개 시 도별 정부 및 민간R&D투자, 고정자본과 고용, 지역내총생산의 상호 간 장 단기 인과관계를 도출하였다. 분석결과, 단기적으로 GRDP의 원인변수는 고정자본, 고용, 그리고 민간R&D투자로 나타났다. 고정자본의 원인변수는 고용, 민간R&D투자로 나타났으며, 고용의 원인변수로는 GRDP와 고정자본으로 나타났다. 장기적으로 고용, 고정자본, 정부R&D투자가 다른 변수들의 장기균형관계로부터 각각 인과관계를 갖는 것으로 나타났다. 이와 같은 결과를 바탕으로 목적과 대상 그리고 시간의 흐름에 따라 지역R&D투자의 직 간접적 효과를 함께 고려할 수 있는 추가적인 분석이 요구된다.

• 한국벤처창업학회:학술대회논문집
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• 2023.04a
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• pp.39-44
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• 2023

우리나라에서는 벤처생태계의 구성이 태생적으로 정부 주도로 법제화된 정부자금의 지원이 기초가 되어 이루어지면서 공적 자금의 정책적 목적에 따라 운영되어왔다. 따라서 벤처투자기구에 대해서 이해상충 가능성 배제, 고도의 윤리성, 공정성 및 투명성 등을 요구하는 등 강한 규제가 반영되게 되었다. 이러한 공적규제가 일면 타당성이 있을 수 있으나, 공적규제 위주의 관리감독 체계는 규제의 영향을 크게 받는 한국 벤처투자 시장의 성격상 민간자금의 유입을 제한할 수 있다. 민간 중심의 벤처투자 시장으로 전환하기 위해서는 공적규제를 강화하기보다는 자율규제 영역을 확대하여 업계의 전문성과 효율성에 친화적인 규제 환경을 조성할 필요가 있다. 따라서 본 연구에서는 벤처투자 시장의 자율규제 가능 영역을 살펴보고, 벤처투자기구의 운용사 관점에서의 자율규제 방안을 제시하였다. 구체적 방안 중 하나로는 출자자 사이의 자치적 규범이라고 할 수 있는 규약의 표준이 참여자의 전문적인 식견을 최대한 반영하여 마련된 것이므로, 펀드 결성 이후 출자자 사이의 규약을 둘러싼 분쟁이 발생하는 경우 이를 자율적으로 해결할 수 있는 1차적인 분쟁 조정 절차를 마련해 볼 수 있다.

• Journal of Korean Society of Transportation
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• v.24 no.5 s.91
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• pp.67-74
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• 2006

This paper proposes a way to a risk quantification of public sector comparator in the value-for-money test of the BTL (Build-Transfer-Lease) scheme in rail investment projects. Two principal risks that are project delay and budget increasing costs are identified and are empirically quantified with a case study of the Haman-Jinju link. The methodology suggested is expected to be a good reference for the similar research afterwards and also to help in settling down the scheme that is only an early stage.