SOC 민간투자사업의 투자 활성화 방안 연구

• 영문명: A Study to Facilitate Financing PPI Projects
• 발행기관: 한국건설산업연구원
• 저자명: 왕세종
• 간행물 정보: 『한국건설산업연구원 연구보고서』연구보고서 2003-01, 1~59쪽, 전체 65쪽
• 주제분류: 공학 > 토목공학
• 파일형태: PDF
• 발행일자: 2003.01.01

영문 초록

Since the overall amendment of the legal system for private participation in infrastructure (PPI) from the Act on Private Capital Inducement to the Act on Private Investment in 1999 after the financial crisis in 1997, the environment for the PPI system in Korea is in the process of improvement. This is wholly due to the consistent effort of both the public and the private sectors. However, it is generally agreed among the PPI experts and the practitioners that the performance of the PPI projects even after the amendment is far from their expectation and satisfaction made at the outset. In particular, the environment of financing the PPI projects is usually pointed out as the main reason for the blame, as there still remain some customary practices which make the private sector, in particular financial investors, difficult in financing the project. The purpose of the current report is to recommend some measures to enhance the financiability of the private sector. This report consists of four chapters and one appendix After the introductory chapter, chapter two consists of two sections: the first section reviews the current situation of the PPI projects in Korea, and then points out the recent trend of the PPI projects. And, the second section reviews the current situation of the major twelve construction firms in the Korean PPI market on the basis of their investment amount. As the end of April, 2003, Chapter three is the main chapter of this report, which consists of two sections. The first section reviews the recent policy direction in order to facilitate financing of PPI projects, and drives out some policy Implications from the current policy direction toward the PPI system in Korea, current practices of the business and the financing structures of PPI projects in terms of cash inflows and outflows, and then examines the present situation of financing PPI projects with a special attention to fund raising and operating by the technique of project financing. And, the second section considers the basic direction for activation of the PPI system in Korea by solving financing difficulties, and presents some measures to facilitate fiancing PPI projects by examining the problems of the customary financing practices. According to the statistics reported by the Ministry of Finance and Economy (MOFE), twenty-one PPI projects were either financed or are under consultation for financing by project financing. The sum of their total project costs are estimated more than twenty-six trillion wons, and seven of them are road projects with the portion of forty-four percent in the total project costs The funds for ten out of twenty-one PPI projects are currently fianced by the Korean Development Bank (KDB), which is one of government-controlled banks. And, the KDB are in charge of financial consulting for the arrangement of funds for seven out of nine PPI projects. Some commercial banks such as Kookmin Bank, Hanvot Bank, and Shinhan Bank are now actively involved in project financing loans for PPI projects. For the basic direction for activation of the PPI system in Korea, three particular directions are given: the first is to select PPI projects based upon their profitability and/or viability, which is determined by the difference between revenues and costs, not between benefits and costs; the second is to determine the basic guideline of financial support for PPI projects in terms of internal rate of return (IRR), users' costs, government subsidies, and concession period, making the PPI projects profitable up to a certain level; and, the third is to select PPI projects in terms of a reasonable size, where "reasonable" meaning not large enough to burden the private sector with fund raising. Also, in chapter three, four particular measures are suggested to lessen the financing burden of project sponsors under the current practice of PPI system and the customary loan practices. The first is to deregulate the required

목차

Ⅰ. 서론

Ⅱ. 민간투자사업의 현황 및 자금 조달 동향

Ⅲ. 민간투자사업의 투자 활성화 방안

Ⅳ. 결론 및 향후 과제

부록 :『프로젝트금융투자회사(PFV)법』

참고 문헌

Abstract

요약