[New Book] Understanding Overseas IPP Business and PPP Infrastructure Project Contracts

[Asia Economy Reporter Kang Juhee] A specialized book deeply covering feasibility analysis, project financing, and private investment structuring related to overseas infrastructure development projects such as power plants and roads has been published.

It is notable that the author is a partner-level lawyer at a law firm. "Understanding Overseas IPP Projects and PPP Infrastructure Project Contracts Based on PF," published by Lee Seunggyo, a U.S. lawyer at the law firm Bae, Kim & Lee LLC (photo), contains content useful for companies, financial institutions, and investment officers of governments and public institutions planning related overseas power projects or private infrastructure projects.

The reason this lawyer published the specialized book is because "the times demand it." South Korea, on the verge of joining the G7, has accumulated abundant related technology and capital, and underdeveloped countries aware of this situation are competing to request social overhead capital investments. Moreover, as China's previously preferred technology has proven insufficient, the preference for Korea is intensifying. In such times, entering projects without concrete and thorough feasibility analysis inevitably increases risks.

Furthermore, the book was published because there are many evaluations that, compared to the excellence of operation and construction technology and financing ability of social overhead capital such as power plants, roads, and water treatment facilities, there is a lack of overall understanding and expertise of the entire project. It deals with numerous essential review items by facility and stage, focusing on actual cases.

The lawyer said, "I have comprehensively organized the necessary contract issues from the project development stage through financing, construction, operation, and termination," adding, "I examined the background and characteristics of these issues, how the positions of contracting parties should be reflected when project financing is involved, what results occur if contractual schedules or conditions are not met, how contractual non-performance affects other contracts and parties, and how related risks are transferred among parties."

He has experience working at Korea Electric Power Corporation and later served as head of the energy and infrastructure team at a law firm. He is also an investment review committee member for several domestic public enterprises related to social overhead capital and has been recognized as a leading lawyer in infrastructure projects by global legal media.

He emphasized, "Overseas social overhead capital development projects involving private capital have the advantage of being government-led projects that can secure stable fixed income over a long period," but added, "All parties involved in the project?government, private operators, financial institutions?must appropriately consider their interests and possess expertise to avoid risks that are difficult to reverse."