VII.  RECENT TRENDS IN THE PPI MARKET

The number of unsolicited projects has been growing since 1999. There were 5 projects in 1999, 23 in 2000, 19 in 2001 and 19 projects in 2002 (as at August). Over these four years, while the road sector has maintained its dominance, the number of environmental projects has soared. In the beginning, most of the unsolicited projects were small ones with a relatively low investment priority, but the trend has changed. The size of unsolicited projects is growing larger and now they rank high in the Government's investment priorities. One example is the Seoul to Bundang railway project at a cost exceeding $ 1.6 billion. This railway will link the capital city to Bundang, which is one of Seoul's largest satellite cities.