South Korea/ 7. Public institutions in cultural infrastructure  

7.3 Status and partnerships of public cultural institutions

Public private partnerships have been most active in the area of cultural infrastructure. From 2005, the Ministry of Planning and Finance has instituted the PPP system for all public buildings. The BTL (built transfer lease) was regarded as the most appropriate system, which  encouraged local governments to utilize the system. About 23 facilities was built adopting this system. Since the BTL system is susceptible to the market situation the its adoption has slowed down with the stagnant economy.

Chapter published: 29-11-2013