• Title/Summary/Keyword: the Private Investment Act

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Law on Private investment in infrastructure on the Business structure issues (사회기반시설에 대한 민간투자법상 사업구조 쟁점에 관한 고찰)

  • Yoon, Kwang-Ho
    • The Journal of the Korea institute of electronic communication sciences
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    • v.8 no.5
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    • pp.679-686
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    • 2013
  • Private investment business, government, the introduction of private capital and technology, and private sewage that due to the mutual benefit monetize using a stable government's public goods is still active. Internationally in the 1980s, the 1990s, the case of Korea, the social infrastructure, such as roads, ports, airports, business increased. This study is part of the overall consideration of the Act on Private Participation of private investment projects and improve on the points at issue by deriving the direction you want to achieve the purposes of the Act on Private Participation "that contribute to the national economy and promote private investment.

A Study on the Effective Application of the Project Finance to the Korean Private Infrastructure Projects (SOC 민자사업과 프로젝트 파이낸싱의 효율적 결합방안에 관한 연구)

  • Park Tong-Kyu
    • Korean Journal of Construction Engineering and Management
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    • v.1 no.4 s.4
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    • pp.67-73
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    • 2000
  • For the successful performance of a private infrastructure project, an effective project financing is indispensable through various domestic/overseas sources. This study explains the concept of the private infrastructure development and investigates its current status in Korea. In addition, the details of the changed environment for the project finance under the newly enacted 'Private Investment Act' are compared in an analytical manner to those under the previous law. Finally, it discusses the problems that still remain and recommends the remedies available for the better financing environment.

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A Review of Laws Relating to Foreign Direct Investment Policy in Pakistan (파키스탄의 외국인직접투자 관련법에 관한 고찰)

  • Lee, Kyung-Kook;Won, Sung-Kwon
    • 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.

Application of Risk Management to Forecasting Transportation Demand by Delphi Technique (Delphi기법을 통한 교통수요예측 Risk Management 적용 방안)

  • Chung, Sung-Bong;Yi, Su-Ho;Namkung, Baek-Kyu
    • Proceedings of the KSR Conference
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    • 2011.05a
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    • pp.1572-1581
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    • 2011
  • Since 'The Act on Private Investment of The Infrastructure' was established in 1994, private investment as well as government's investment has been active on transport infrastructure. But investment of transport infrastructure has more risks than others due to overforecast of transport demand for ensuring project validity, and cost uncertainty arising from financial crisis, commodity prices and so on. In the case of Incheon international airport express, after 2 years and 6 months, Incheon international airport express is opened, Korail take over equity stake in private investor due to the problems of MRG(Minimum Revenue Guarantee) be contracted with private investor. Not only that, in other case of Yong-in light rail, it is ongoing for legal disputes between Yong-in local government and private investor on account of opening delaying. On current Investment Assessment System of Transport Infrastructure, Risk Management system on investment of transport infrastructure is inadequate because Sensitivity Analysis in economic efficiency have been performed on the simple method which only changes benefits, expense and social discount rate. For this reason, this study analyze risks for investment of transport infrastructure demand forecast, and rise to the management practice for every particular item.

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Application of Risk Management to Forecasting Transportation Demand by Delphi Technique (Delphi기법을 통한 교통수요예측 Risk Management 적용 방안)

  • Chung, Sung-Bong
    • Journal of the Korea Safety Management & Science
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    • v.13 no.2
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    • pp.267-273
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    • 2011
  • Since 'The Act on Private Investment of The Infrastructure' was established in 1994, private investment as well as government's investment in transport infrastructure has been active. However investment in transport infrastructure has more risks than others' due to uncertainty both in traffic volume and in construction cost. In the current appraisal procedure of deciding transportation infrastructure investment, instead of risk management, the sensitivity analysis considering only the changes of benefit, cost and social discount rate which are main factor affecting economic feasibility is carried out. Therefore the uncertainty of various factors affecting demand, cost and benefit are not considered in feasibility study. In this study the problems in current investment appraisal system were reviewed. Using Delphi technique the major factors which have high uncertainty in feasibility study were surveyed and then improvement plan was suggested in the respective of classic 4 step demand forecasting method. The range estimation technique was also mentioned to deal with the uncertainty of the future.

Investment Decisions for Clean Development Mechanism under Uncertain Energy Policies using Real Option

  • Taeil Park;Changyoon Kim;Hyoungkwan Kim
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.107-110
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    • 2013
  • Recently, Korea parliament legislated the Low Carbon Green Growth Act (April, 2012) and approved a bill (May, 2012) to start carbon emission trading system in 2015. It means that for the first time, government would regulate the amounts of carbon emission in private entities, and private entities should attain predefined emission reduction goals by implementing clean development mechanism (CDM) project or buy the Certified Emission Reductions (CERs) from the trading market to avoid penalty. Under these circumstances, it is not easy for them to determine when or how to implement the CDM project because the governmental energy policies about the level of governmental subsidies, periods for free emission allocation, etc. are still under discussion and the future price of the CERs is quite uncertain. Thus, this study presents a real-option based model to assess the financial viability of the CDM project which switches bunker-C oil to liquefied natural gas (LNG). The proposed model is expected to assist private entities in establishing the investment strategy for CDM project under uncertain government energy policies.

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A Study on the Amendment of Act to activate the Establishment of Public Kindergarten - Focusing on Urban and Architectural Planning Act - (국·공립 유치원 설립 활성화를 위한 관련 법령 개정방안 연구 - 학교용지법 등 건축 및 도시계획 법령을 중심으로 -)

  • Cho, Chang-Hee;Dong, Jae-Uk;Lee, Hwa-Ryong
    • Journal of the Korean Institute of Educational Facilities
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    • v.26 no.2
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    • pp.11-18
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    • 2019
  • There is a growing demand for public kindergartens due to the problem of private kindergartens. However, when the kindergarten is built in the residential land development area, the cost of purchasing the land increases, and the overall project cost is increasing. This situation puts a lot of burden on educational finances. Therefore, to reduce the cost of establishing a kindergarten, it is required to revise related laws including act on the special cases concerning the procurement, etc. of school sites. The purpose of this study is to propose the revised laws to expand public kindergartens. In this study, the present situation of infants and kindergartens was analyzed through policy data and statistics. And the analysis of the investment evaluation data also analyzed the problems in establishing kindergarten. In addition, we conducted surveys and FGI analyzes on school sites and kindergarten related laws and regulations. Finally, this study aims to find a way to amend related acts of urban and architectural Planning for Invigoration of Public kindergarten establishment by analysis data.

PPI (PRIVATE PARTICIPATION IN INFRASTRUCTURE) STATUS OF SOC (SOCIAL OVERHEAD CAPITALS) AND ITS IMPROVEMENT IN KOREA

  • Sugk-Yong Yoon ;Sung-Won Kim
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.353-359
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    • 2005
  • The infrastructure in korea has been improved drastically since July 7th, 1970 which was the first highway completed date in Korea (Seoul-Pusan). This is one of the major factors for the competitiveness of a country. Now the total length of highway in Korea is more than 2000km. However Korea is 11th in the trade volume in the world, the SOC level of Korea is around 20th at most in the world (IMD 2004). The infrastructure in Korea comparing other developed countries is far below, which gives the impact of cost of goods, even twice expensive in transporting goods through highways, railways and ports etc. Now the government budget is gradually spending more for welfare and health care side. The most of additional expense of welfare is increasing rather than SOC budget is decreasing or staying as it is as 2003. The government may think that the level of SOC is enough in point of view of preference input of budget such as welfare and health care etc. However the SOC level in Korea is far form the competitiveness of the country. The main points of this paper is to show that where Korea is in point of SOC level to go for developed country, and what to do to facilitate BOT, BTO and BTL projects. Korean government has tried to improve the practice of PPI (Private Participation of Infrastructure) with the Act on Private Capital Inducement in 1994 and the Act on Private Investment in 1997.

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A Study on Private Security in the 1980s (1980년대의 민간경비연구)

  • Ahn, Hwang Kwon
    • Convergence Security Journal
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    • v.16 no.6_2
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    • pp.43-51
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    • 2016
  • In the 1980s, private security was established in the framework of institutional framework with the Security Industry Act which was enacted in 1976. The agents who brought in the development of the private sector in 1980 enjoyed a boom in the global economy, affected by its high-flying dollar value, low international interest rate, low oil prices, and the blooming economy. In addition, the semiconductor, computers and communications equipment that was promoted in accordance with the e-Literacy plan were raised. Following the economic development of various events such as Seoul International Trade Fair, "86 Asian Games," and "88 Seoul Olympic Games," private security expenses were enhanced by increasing awareness of civilian expenses. Also, in the 1980s, Korean investment in foreign companies, including Japan's Secom, or Korean technology, brought many changes to the private security. Meanwhile, the cost of security, which has been centered around human expenses, has brought about the era of mechanized spending, or machine security expenses. The purpose of this study is to systematically analyze the social environment surrounding the private security in the 1980s and systematically analyze the important factors that contribute to private security.

A Sensitivity Analysis for Risk Management of Private Investment Projects - Focused on BTL Projects - (민자유치사업의 리스크 관리를 위한 민감요인 분석 - BTL 사업을 중심으로 -)

  • Kim, Sun-Kuk;Park, Tong-Kyu
    • Korean Journal of Construction Engineering and Management
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    • v.7 no.1 s.29
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    • pp.168-175
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    • 2006
  • Since the partly changed 'Private Investment Act for Social Infrastructure Projects' set forth in January 2005, the number of BTL(Build-Transfer-Lease) projects offered to the market has rapidly increased. The scope of BTL projects offered covers not only legally defined facilities but several facilities for the private schools. A BTL project, by definition, is a way of project management that includes the entire process of development such as planning, design, construction and operation over the period of 20-30 years. As a result, various types of risk may happen at each stage of the project and it is extremely important to efficiently control the sensitive factors that affect the risk profiles of the project. The examples of the sensitive factors are construction cost, interest rate, discount rate, lease amount, rental fee, O&M cost and so on. This study examines the characteristics of these sensitivity factors, analyzes their impact on the project feasibility and suggests the alternatives to manage them efficiently.