by Sim NaYoung
Published 03 Mar.2024 15:04(KST)
The Ministry of Land, Infrastructure and Transport will operate specialized universities for overseas construction investment development projects (PPP) (Chung-Ang University and Kookmin University), starting with the first semester opening on the 4th. PPP stands for Public-Private Partnership. It refers to a business model in which project participants share part or all of the required costs, and recover investment funds and generate profits by distributing the resulting gains and losses according to their shares.
The Ministry of Land, Infrastructure and Transport has continuously fostered experts in the PPP field, and this year promoted a specialized university project for nurturing young PPP experts, selecting Chung-Ang University and Kookmin University as specialized universities. Schools designated as PPP specialized universities will receive government budget support (277 million KRW annually) for three years (from November 2023 to March 2026) to provide various incentives such as curriculum development and overseas training support, aiming to cultivate a total of about 150 young PPP experts.
This program will be operated as a minor degree course. In existing construction-related departments, specialized PPP courses such as global market analysis, construction and contract dispute management, and overseas project management will be offered. Students who complete the courses will have their minor majors indicated on their diplomas, which can be utilized for employment purposes.
During student recruitment, the program was opened to students from various fields including construction majors, and in fact, students from diverse majors such as economics, business administration, law, real estate, and urban planning applied.
Kim Sang-moon, Director of the Construction Policy Bureau at the Ministry of Land, Infrastructure and Transport, stated, "It is now necessary to move beyond the simple subcontracting type overseas construction industry structure and actively discover and commercialize high value-added projects such as urban development and smart cities, where Korea has strengths." He added, "For this, nurturing competent young talents specialized in PPP is essential, and the Ministry of Land, Infrastructure and Transport will continue to support and expand the PPP human resource development project."
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