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The promise and pitfalls of public–private partnerships in Korea
Author(s) -
Choe Sang–Chuel
Publication year - 2002
Publication title -
international social science journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.237
H-Index - 43
eISSN - 1468-2451
pISSN - 0020-8701
DOI - 10.1111/1468-2451.00377
Subject(s) - general partnership , government (linguistics) , public–private partnership , public administration , slum , business , public relations , economic growth , political science , sociology , economics , finance , population , linguistics , philosophy , demography
Urban problems are becoming too serious to leave solely in the hand of government authorities but have necessitated drawing the wisdom and resources of all parties involved in contemporary urban predicaments. The paper is to review the historical evolution of the public–private partnership concept and to highlight the generic promise and drawbacks of the public–private partnership. The two cases, which have long been practiced in Korea, are introduced to shed some lights on how the public–private partnership works in reality. The first case is the cooperative urban renewal programme which involves three parties: the residents, construction firm, and municipal authority for their own sake of slum–squatter improvement. The second case is the land readjustment programme, which aims at converting raw land to buildable urban land by the participation of landowners and public authority. It is expected to pose a new question for the further refinement of the public–private partnership concept and to give some lessons for cross–cultural comparison.