Disclosure of Private Investment Project Implementation Agreement Information

22nd Cabinet Meeting
Resolution on Partial Amendment to the Enforcement Decree of the Private Investment in Social Overhead Capital Act

[Asia Economy Reporter Jang Sehee] On the 22nd, the government held a Cabinet meeting and approved the Enforcement Decree of the Private Investment Act for the disclosure of information on private investment project implementation agreements.

This measure is an extension of the amendment to the Private Investment Act made by the government last March, aimed at promoting private investment projects more transparently.

The Ministry of Economy and Finance announced that at the Cabinet meeting held that day, the "Partial Amendment to the Enforcement Decree of the Private Investment Act on Social Overhead Capital" was approved.

Accordingly, implementation agreements, excluding financial models and other information that could significantly harm managerial or business interests, are to be disclosed on the websites of each competent authority.

The amendment newly established the specific scope, methods, and procedures for information disclosure to enable transparent project management. The Ministry of Economy and Finance plans to publicly disclose the implementation agreements in an integrated manner through Open Finance starting from the 1st of next month.

Additionally, for mixed-type private investment projects (BTO+BTL), the rental-type private investment project (BTL) portion will require approval of the limit amount by the National Assembly and preparation of government payment estimates.

The Ministry of Economy and Finance stated, "We will actively improve the system to ensure that reasonable private investment projects can be promoted by continuously strengthening communication with competent authorities, the public, and project operators."