58 Public Work Projects by Private Companies are Being Delayed
The public work projects the government pledged are now being delayed by the private companies contracted to complete them. It appears that 58 public works among the 100 announced by the government to be constructed by private companies are being postponed indefinitely.The reason, quite simply, is that private companies are reluctant to participate in the construction due to the prospect of low profits.
To solve these delays, the Budget Planning Committee decided on October 6 that it would abolish the old law on private construction and establish a new law on private investment and set a target to implement the new law from early next year through the National Assembly within the month.
with the Korea JoongAng Daily
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