Defined as a new idea that creates a collaborative structure, social innovation is an integrated process that generates substantial and sustainable social impact through new creative approaches and effectively responds to social demands. Until now, the direction of social innovation in Korea has progressed in the form of limited participation under government control and has been limited to specific fields. In other words, despite Korea’s efforts, the pursuit of social innovation does not seem to be as effective as expected.

Given this background, this study presents effective directions for role sharing between the government and private sector in order to promote social innovation. Part 1 discusses ways to promote public-private cooperation to improve regulatory effectiveness by examining ways to institutionally activate Public-Private Partnerships(PPP). In particular, it focuses on regulatory policy by finding areas for more active public-private cooperation. To that end, measures to enhance PPP were reviewed in terms of ① regulatory policy cycles, ② regulatory governance perspective, ③ regulatory methods that are applicable to individual issues and ④ stakeholder consultation. The section concludes by emphasizing the need for measures to actively consider PPP from the regulatory design stage; strengthen the autonomy of the private sector through regulations on output standards and; revitalize private-public cooperation.

Part 2 introduces the new PPP system, Social Impact Bond (SIB), as a new financial model, in order to promote the efficiency of public services. Although PPP is not a common practice in social welfare in Korea, the section discusses practical alternatives to apply to the social welfare field focusing on the concept, characteristics, operating structure and financing model of SIB. Additionally, it analyzes the determinants of SIB participation through survey results. Finally policy implications are presented, centering on the urgent tasks to invigorate SIB at each implementation stage.

Lastly, part 3 discusses ways to improve the public service of SOC public works projects. For the analysis, investment efficiency is examined in order to improve the publicness according to the benefit principle though which a comparative analysis between the government and private alternatives is conducted. Based on the results, the alternatives for maximizing the effect of PPP projects are suggested.

This study focuses on social innovation through PPP among the various social innovation methods to advance our society. In particular, it concentrates on institutional complementation in terms of regulatory policy, introduction of a new public service delivery system and improvement of public awareness centering on SOC. Ultimately, it provides policy implications that can offer practical assistance to our society.

Preface
Executive Summary

Chapter 1 Introduction

Chapter 2 Enhancing Public-Private Cooperation to Improve Regulatory Effectiveness
　Section 1 Introduction
　Section 2 Review of Existing Discussions
　Section 3 Evaluation of Public-Private Cooperation in Korea’s Regulatory Policy Process
　Section 4 Strategies to Promote Public-Private Cooperation in Regulatory Policy
　Section 5 Conclusion

Chapter 3 Introducing a Public-Private Cooperation System for Enhancing Public Service Efficiency: Focusing on the Social Impact Bonds (SIB) Model
　Section 1 Introduction
　Section 2 Literature Review
　Section 3 Overview and Characteristics of SIB
　Section 4 Current Status and Application Cases of SIB in Korea and Abroad
　Section 5 Analysis of Determinants for SIB Participation
　Section 6 Conclusion and Policy Discussion

Chapter 4 Enhancing the Publicness of SOC Public-Private Partnership Projects
　Section 1 Introduction
　Section 2 Trends and Issues in SOC Public-Private Partnership Projects
　Section 3 Analytical Method for Evaluating the Investment Efficiency of PPP Projects
　Section 4 Enhancing Investment Efficiency Considering User Costs
　Section 5 Improving Publicness by Converting BTO Environmental Projects to BTL
　Section 6 Conclusion and Policy Recommendations

References
Appendix
ABSTRACT