Korean Experiences and Practices

From March 23^rd to March 27^th, the KDI School hosted a one week workshop called the “Capacity Building Program for APEC Member Countries’ Infrastructure Development: Korean Experiences and Practices” in Seoul, South Korea. Considering the Korean Government’s dedication to sharing its knowledge with other members of APEC, the KDI School was happy to oblige in organizing and managing the program with the support of the Ministry of Strategy and Finance of the Republic of Korea along with the Asia-Pacific Finance and Development Institute (“AFDI”).

The first three days had two sessions apiece, which discussed important topics such as Korea’s economic and social development. Each session was followed by a Country Report or a discussion on a previously presented topic, not counting the generous meals provided during the event.

On the first day, Professor Kim Jeong-Ho and Professor Kim Myeong-Soo presented “The Impact of Infrastructure on Economic Development: Infrastructure Development and Finance”. This session described the history of Korean infrastructure construction, as well as the importance and the requirements for proper infrastructure. This was followed by a presentation of Public-Private Partnership (PPP) in Korea by Director Kim Kangsoo and Associate Fellow Lee Jong-Yeon. This session touched upon the importance of PPP, especially on how it could be beneficial for the economies of the developing countries.

On the second day, Professor Shon Eui-Young and Professor Chen Chuan presented  “Publicly Financed Infrastructure Development: Implications”. This session discussed the various roles of proper infrastructure, and the lack of infrastructure in developing countries.  The history and projects of China’s PPP were brought up as an example of the PPP in practice. Following that, CEO Jeong Jong Moo and Head Park Soojin discussed the “Need for Private Sector Participation in Infrastructure Development and Financing”. Topics discussed include the Build-Transfer-Lease system and the benefits/risks of infrastructure investment.

On the third day, President Yang Dong-Wan held a session on the “Legal and Regulatory Framework of PPP in Korea”, which mainly discussed about his six strategies to counter the problems and promoting the citizen’s investment. This was followed by Professor Rhu Jae-Young’s “Case Study on PPP in Korea”, discussing the statistics of Korea before and after the implementation of infrastructures.

Fourth day was comprised of site visits to Incheon Bridge and the Seoul Transport Operation & Information Service (TOPIS) as examples of infrastructure which was important for the development of Korea. The final day was comprised of the final overview, summary, closing ceremony, and a culture tour to relieve the tired minds of the intellectuals that participated in this great event.

This one week’s workshop was a follow-up to the inaugural program held in Shanghai, on December 2014. This was an invaluable opportunity to share information between the APEC Members, as well as a great opportunity to explore Korea’s experience through infrastructure development and PPP. Hopefully, this event was beneficial for all of the participants which could be hosted by the KDI School again in the near future.