Since the industrial revolution in 19 century, there had been a pro and con argument on which is better solution between privatization and nationalization in developing the infrastructure projects and in maintaining the infrastructure facilities worldwide. This paper introduces the privatization-nationalization wheel along with its advantage and disadvantage. At this stage according to the global trend, it is the time that the most of infrastructure projects are being developed by the private sector in the industrialized countries. It is mainly because the product or the services produced by the facilities of the infrastructure should be fully paid back by the end users according to the mechanism of the market economy. Some solutions have been suggested for the future development of infrastructure projects in S-N Korea.