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Legal Analysis on Private Investment Stimulus Policies - Legal Significations and Issues on Private Investment Activation Policies of Park Administration -

  • Public Land Law Review
  • Abbr : KPLLR
  • 2016, 74(), pp.25-51
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Seung Pil Choi 1

1한국외국어대학교

Accredited

ABSTRACT

The legal issues of the recent government‘s economic stimulus policies can be classified into two. One being the stimulation of PFI(Private Finance Initiative), and other being deregulation of certain areas through regulation free zones. The core of private investment stimulus policies is Fast Track that enables quicker investment process, PFI priority policy in public works, and utilization of BTO-rs and BTO-a, a new sharing plan of risks and profits. However, this policy may be a financial burden how and at what ratio the government and the private sector divides risks and profits. The financial burden can especially be large if the public works are with little business feasibility. For PFI Competitive Dialogue is introduced. However, the main purpose of this policy is fair competition, not to stimulate PFI. Government economic stimulus policies focusing on regulation free zones, are structured with development deregulation and licensing deregulation. Site deregulation and restricted development area releases. By appointing special occasions on location regulations, facilities such as factories with new businesses have enhanced access to move in. Additionally, if large complexes are necessary, existing limited development districts can be released to provide necessary land. Environmental and transportational regulations are simplified during industrial complex developments, through authorization simplification processes. But existing industrial complexes or semi-industrial complexes must be utilized prior to any new developments. Appropriate collection method for development profits from releases of development restriction areas. Environment is one of the most important factors to concern in development administration. This economic stimulus policies and regulation free-zone act also plan procedure simplication. However, environmental hazards from emittance regulations cannot be removed. Deregulation must be realized narrowly if environmental protection is necessary. Value-add creation through economic stimulus and necessary public interest, must maintain its balance.

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