KOREA, REP.
| KOREA, REP. |
| OECD HIGH-INCOME | GNI PER CAPITA (IN USD) |
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| Preparation of PPPs |
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| Central budgetary authority's approval | Yes | Both before tendering and contract signature | |
Fiscal treatment of PPPs | No |
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PPPs' prioritization consistent with public investment prioritization | Yes | Detailed procedure not regulated | ||
Economic analysis assessment | Yes | Specific methodology developed | ||
Fiscal affordability assessment | Yes | Specific methodology developed | ||
Risk Identification | Yes | Specific methodology developed | ||
Comparative assessment (value for money analysis) | Yes | Specific methodology developed | ||
Financial viability or bankability assessment | Yes | Specific methodology developed | ||
No |
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Environmental impact analysis | No |
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Assessments included in the RFP and/or tender documents | No |
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Yes | Tender documents also available online | |||
Standardized PPP model contracts and/or transaction documents | Yes |
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| Procurement of PPPs |
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| Evaluation committee members required to meet specific qualifications | Yes | Detailed membership and/or qualifications not regulated | |
Public procurement notice of the PPP issued by procuring authority | Yes | Available online | ||
Foreign companies permitted to participate in PPP bidding | Yes |
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Minimum period of time to submit the bids | Yes | 90 calendar days | ||
Availability of various procurement procedures for PPPs |
| Open procedure (single-stage tendering). Restricted procedure (competitive procedure with prequalification stage). Competitive dialogue and/or multi-stage tendering | ||
Direct negotiation not discretionary | Yes |
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Tender documents detail the procurement procedure | Yes |
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Tender documents specify prequalification/shortlisting criteria (if apl.) | Yes |
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Clarification questions for procurement notice and/or the RFP | Yes | Answers publicly disclosed | ||
Pre-bidding conference | No |
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Financial model submitted with proposal | Yes |
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Proposals solely evaluated in accordance with published criteria | Yes |
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Treatment when only one proposal is received | Yes | Detailed procedure not regulated | ||
Publication of award notice | Yes | Not available online | ||
Notification of the result of the PPP procurement process | Yes | Grounds for selection included | ||
Standstill period | No |
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Negotiations with the selected bidder restricted | Yes |
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Publication of contract | No |
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| PPP Contract Management |
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| System to manage the implementation of the PPP contract | Yes | Elaboration of a PPP implementation manual | |
System for tracking progress and completion of construction works | Yes |
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Monitoring and evaluation system of the PPP contract implementation | Yes | Private partner provides periodic information. Procurement authority gathers information. Performance information is published online | ||
Foreign companies permitted to repatriate income | Yes |
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Change in the structure (stakeholder composition) of the private partner and/or assignment of the PPP contract regulated | Yes | Same qualifications legally required for the replacing entity | ||
Modification/renegotiation of the PPP contract (once the contract is signed) regulated | Yes | Approval by an additional government authority required. Regulations about: changes in the economic balance; changes in duration; changes in the price or tariff | ||
Circumstances that may occur during the life of the PPP contract regulated | Yes | Force majeure. Material adverse government action. Refinancing. Subcontracting | ||
Dispute resolution mechanisms | Yes | Domestic arbitration. International arbitration. Investor-State Dispute Settlement (ISDS) | ||
Lenders' step-in rights | No |
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Grounds for termination of a PPP contract | Yes | Consequences of termination expressly regulated | ||
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| Regulation of USPs |
| Expressly regulated | |
Assessment to evaluate unsolicited proposals | Yes |
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Vetting procedure and/or pre-feasibility analysis of USPs | No |
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Evaluation of consistency of USPs with other government priorities | Yes | Detailed procedure not regulated | ||
Yes |
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Minimum period of time to submit the bids | Yes | 90 calendar days | ||
