민간투자사업에 대한 재정지원방식의 특성 분석

Abstract

This study aims to analyze the characteristics of financial support methods being implemented to facilitate private investment projects and derive policy implications. Financial support methods are categorized based on the construction and operation periods. The analysis of financial support methods during the operation period was conducted considering private investment project approaches, specifically focusing on hybrid, risk-sharing, and profit-sharing models. In order to analyze the characteristics of financial support methods, a financial model was required, and the standard financial model for each private investment project approach provided by the KDI Public Investment Management Center was utilized. According to the analysis results, construction subsidies provided during the construction period play a role in lowering the profitability of private investment projects while securing additional construction volumes for private investors. The hybrid model, which is the target of financial support during the operation period, was analyzed as a method of providing part of the construction subsidy in the form of lease payments. Furthermore, the risk-sharing and profit-sharing models involve providing subsidies based on the sharing of future operational income risks. The analysis determined that the minimum fiscal burden occurs when the responsible government agency bears 0% or 100% of the operational income risk.