Allowing private investment in public software development
Published2022.04.06 13:42Public utilization of excellent private software development and operation capabilities
By allowing private investment in public software development projects that are currently funded entirely by government funds, the promotion of new projects necessary for the public sector will be revitalized.
The Ministry of Science and ICT and the Ministry of Strategy and Finance held a policy meeting on the 6th on the topic of ‘Vitalizing the Domestic Software Industry.’
At this meeting, experts from the Ministry of Science and ICT, the Ministry of Strategy and Finance, public institutions, private companies, and academia gathered to share in-depth opinions on the current state of the domestic software market and ways to revitalize the domestic software industry.
At the meeting, it was decided to fully promote private investment-type software business.
The private investment type software project allows private investment in public sector software development projects that were previously solely funded by government funds. The private sector invests more than 50% of the system construction cost and then acquires the operating rights for the contract period, while the public sector shares the system operation and maintenance costs and provides support in the form of rental fees.
The government is pursuing exemption from the requirement to establish an Information Strategy Plan (ISP) to promote private investment-type software projects.
In principle, projects with a national budget of 30 billion won or more and a total project cost of 50 billion won or more must conduct a preliminary feasibility study, and in other cases, an Information Strategy Plan (ISP) must be established. However, for projects proposed by the private sector, the private sector will take the lead in establishing a detailed business plan beyond the Information Strategy Plan (ISP), so the establishment of the Information Strategy Plan (ISP) will be exempted to prevent duplication of similar procedures and enable rapid project promotion.
also The Ministry of Science and ICT has designated the Korea Institute for Advancement of Intelligence Information Society as a specialized agency responsible for reviewing project feasibility and appropriateness of scale, and plans to revise related laws within this year.
The Ministry of Science and ICT plans to distribute the "Private Investment Software Project Guidelines," which provide detailed procedures, standards, project types, and formats for promoting private investment software projects, reflecting institutional improvements such as exemption from the Ministry of Strategy and Finance's Information Strategy Plan (ISP) establishment.
Furthermore, to promote domestic software, it is important for the public sector to take the lead in purchasing commercial software instead of building services. To this end, the budget for public procurement projects will be expanded over the next five years.
Here, the Ministry of Science and ICT and the industry will verify the appropriate service requirements for each product in the business identified to ensure fair value for commercial software maintenance, and will consider raising rates during the 2023 budget preparation process.
The Ministry of Science and ICT and the Ministry of Strategy and Finance announced that they will actively work to improve the system and provide budgetary support to revitalize the domestic software industry centered on the commercial software market based on the discussions at this meeting.
Comparison of the Software Promotion Act and the Private Investment Act
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