earticle

영어

The Public Land Private Participation Development System was introduced in 2011 through the amendment of the “State Property Act,” but there have been no actual project implementation cases to date. This study analyzes the structural and operational issues of the system and derives applicable considerations by examining six successful private development cases led by local governments and public institutions. Furthermore, the study outlines five key directions for institutional improvement, conducts Focus Group Interviews (FGI) with relevant experts, and analyzes the importance of each improvement task using the Analytic Hierarchy Process (AHP) method. The analysis results identified the following as the most critical factors that need to be addressed to revitalize private participation development on state-owned land: applying flexible lease fees (e.g., lease fees linked to revenue), exempting lease fees during the construction period for private developers, sharing profits and risks through joint investment between the public and private sectors, reflecting the evaluation of creative public value enhancement proposals in the bidding process, and extending the lease period to a minimum of 50 years. The findings of this study will be utilized in the formulation of policies aimed at revitalizing private participation development on state-owned land.