Korea Post to Introduce 'Private Investment' Model for Post Office Construction

A private investment model will be introduced for the construction of post office buildings.

The Korea Post (hereafter referred to as Korea Post) announced on the 24th that, in response to changes in the postal business management environment, it will adopt the 'Post Office Construction Citizen Private Investment Project' model for new post office construction projects starting next year.

Until now, post office construction projects have been carried out solely as fiscal projects. However, Korea Post explained that, after discussions with the budget authorities, it has decided to switch to a private investment model in order to improve fiscal soundness and to encourage more creative and active participation from the private sector.

Private investment in social infrastructure projects is expected to reduce the government's fiscal burden, shorten construction schedules, and enhance operational efficiency during the management period.

A Korea Post official stated, "By introducing the private investment model, we expect to reduce the fiscal burden and create a new opportunity for post offices to provide high-quality public services to local residents."