By Managing Editor Ms. Joy Cho with Reporter Chung Hong-keun
President & CEO Hur Kyong-Goo of the Korea Overseas Infrastructure & Urban Development Corporation (KIND) emphasizes that his organization is ready to serve as a facilitator for efficient Public-Private Partnership (PPP) projects implementation worldwide, collaborating with various global PPP players to help fill the gap between infrastructure demand and supply.
This was disclosed at a recent interview with Executive Vice President Han-Kyu Lim of KIND at his office in Seoul. Excerpts from the interview follow:
Since the world is facing drastic climate changes and rapid urbanization today, the need for infrastructure investment is emerging greater than ever with the gap between infrastructure demand and supply hardly to be filled in the near future. The infrastructure investment, therefore, has been a top priority not only in Korea but also in other numerous countries on this globe.
As required in each of our partner countries, KIND will devise and customize its way of support so that Korea’s rich experiences and technical expertise of private and public sectors could be fully channeled into the entire process of PPP project development including project identification, project structuring, construction, O&M, and finance. This KIND way of support will also ensure economically, environmentally and socially viable development, thereby creating a virtuous circle of sustainable growth of partner countries.
In this ever-growing global infrastructure market, KIND will exert the utmost endeavor to integrate and maximize our capacities together with our potential partners. As a team, we will be able to promote more successful PPP projects in the days to come.
G2G Cooperation - New way to develop projects by KIND :
KIND's deal sourcing channels are diversified through private/public contractors, investors, G2G cooperation, and direct development. KIND has reviewed over 100 project opportunities and currently 64 were selected from the screening and added in potential deal pipeline. Among them, one of the best examples is G2G cooperation with Bangladesh.
Based on the MOU dated April 1st 2019, Bangladesh’s PPP Authority and KIND had the 1st Joint PPP Platform Meeting on July 18th. Through this platform, Korean companies were able to submit 10 investment proposals to Bangladesh government, while PPP Authority was glad to suggest 14 potential projects to Korean investors.
After a few months of review, 3 projects were confirmed to be developed by Korean investors.
The Korea-Bangladesh 2nd Joint PPP Platform Meeting was held on January 2020, at Hotel Intercontinental, Dhaka. KIND and PPPA finalized 3 projects and Korean investors for further collaboration and development during this 2nd Joint PPP Platform. Besides, 8 projects in total were newly proposed by both side in the Platform Meeting.
The three confirmed projects are Dhaka Circular Railway, Matabari-Madunaghat 400kV Transmission Line and Improvement of Dhaka-Mymensingh Road into Expressway with service lane.
Regarding the newly proposed projects by both side during the 2nd Joint PPP Platform Meeting, KIND is seeking for potential Korean investors interested in the 3 projects, which are
1. Khan Jahan Ali Airport,
2. Extension of Mongla Port Roosevelt Jetty and
3. Mirpur Integrated Township Development.
Several companies have submitted EOI, and, within 2nd Quarter, KIND is planning to visit government of Bangladesh with those firms for the detailed discussion. After that, KIND will select the most proper Korean investors for each project and recommend them to PPPA of Bangladesh including a discussion of remaining projects proposed during the 1st Joint PPP Platform Meeting.
KIND was established in June 2018 by the Korean government in accordance with the Overseas Construction Promotion Act enforced on April 25, 2018 to pro-actively support global business. KIND supports Korean companies for project planning, feasibility studies, project information and project bankability.
Through the activities KIND is aiming to contribute to life quality improvement and sustainable growth in the partner countries. So far KIND has committed its investment for 6 projects and value committed is approx. USD 140M.