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A Study on the Direction of Legal System Improvement to Promote Overseas Urban Development

  • Public Land Law Review
  • Abbr : KPLLR
  • 2014, 66(), pp.93-117
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Han Sang Hoon 1

1중원대학교

Accredited

ABSTRACT

This paper aims to propose reasonable direction of legal system improvement for the promotion of overseas urban development of Korea. Ever since the global financial crisis of 2008 construction industry of the nation has faced serious business situation due to the depressed real estate market. Especially, small and medium-sized construction companies have experienced stagnant economy caused by weak domestic demand and have difficulties to find new business market despite of their sincere efforts to manage the situations such as strengthening of private contracts for rebuilding, landing a contract for regional development projects provided by local authorities, and etc. Under these circumstances launching in overseas construction industry is considered as the most realistic alternative for the companies to overcome the situation. Overseas urban development has considerable business risk comparing to the business risk of construction companies in the domestic construction market because it is conducted within foreign such as developing countries and underdevelopment nations with poor estimation of demand and supply for the development. Considering the characteristics of overseas urban development with international development projects the study reviews the basic principles of international development cooperation based on the some cases of Germany, France and China. Although Korean government continuously implementing numerous policies for promoting overseas construction business, it is really hard to provide uniform and consistent government supports to the overseas urban development since the authorities of the implemented policies were different respectively and the content of the policies were fragmentary and unsystematic in terms of finance and technologies adopted in the overseas urban development. Therefore, in order to run the systematic management for overseas urban development throughout the unification of the fragmented policies modification of laws and regulations related to the overseas urban development is needed to be done in advance. In addition, to promote overseas urban development practical modification and supplementation for the Overseas Construction Act which currently focused on the support of overseas construction activities is necessary and reestablishment of the relationship between overseas urban development and overseas construction industry from the contextual and systematic perspectives in essential. Finally, to propose reasonable direction of legal system improvement for the promotion of overseas urban development we need to have open discussion and agreement for the following issues. Firstly, we need to have in-depth study on the issue of determining overseas urban development whether it need to be implemented as a part work of International Development Cooperation or as a part work of Overseas Construction. Secondly, from the examinations of Overseas Construction Act and Framework Act on Overseas Developments this research shows that the promotion of overseas urban development requires not only the restructuring of current legal system but it also needs rearranging the authorities of planning for the Framework Act on Overseas Developments.

Citation status

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