Act for Promotion of Private Participation in Infrastructure Projects Article 12

Unless otherwise specified in this Act, the rights and obligations between the authority-in-charge and the private institution shall be governed by the concession agreement and for matters not specified in the concession agreement, the relevant provisions under the Civil Code shall apply.The parties shall, taking into account protection of the public interest, enter into the concession agreement on a fair and reasonable basis, and shall perform the concession agreement in good faith.