Son Byeong-seok, President of Korea Railroad Corporation, "If the Novel Coronavirus Persists for 3 Months, 100 Billion Won Deficit"

[Asia Economy Reporter Inho Yoo]

Son Byung-seok, President of Korea Railroad Corporation (KORAIL), stated on the 4th that regarding the economic impact of the novel coronavirus infection (Wuhan pneumonia), "If the novel coronavirus lasts for three months, a deficit of 100 billion KRW compared to the previous year is expected."

At a press conference held in Sejong City on the same day, President Son said, "Due to travel restraint and reduced mobility sentiment, the number of users has decreased, and train passengers have also decreased by 10-20%, causing a direct impact."

He analyzed, "Concerns about using public transportation are increasing due to the novel coronavirus. Not only travel demand but also business demand is decreasing due to cancellations of various meetings, leading to an overall reduction in mobility." He added, "Last weekend, sales decreased by about 2 billion KRW compared to the previous year, and mobility demand could further decrease by about 30%."

During the 2015 Middle East Respiratory Syndrome (MERS) outbreak, transportation volume and revenue decreased by about 30% compared to normal times.

In response, Korea Railroad is putting maximum effort into quarantine. Since the 22nd of last month, the interior of train cars has been disinfected before and after operation. From the 27th, when the infectious disease crisis alert was raised to the 'Warning' level, railway vehicles and passenger cars, including station service facilities such as restrooms, have been disinfected at least once daily.

After it was confirmed that the 12th confirmed case of the novel coronavirus traveled from Seoul to Gangneung by KTX on the 22nd and 23rd of last month, station ticket office clerks and train crew members at Seoul Station who may have had contact with the confirmed case were also placed under self-quarantine.

Local governments were requested to install equipment such as thermal cameras at each station and secure quarantine personnel. The Korea Centers for Disease Control and Prevention was also asked to provide lists of self-quarantined individuals. President Son explained, "Nowadays, since everything is computerized, if the CDC provides information about self-quarantined individuals, we will filter them out when booking tickets. Originally, self-quarantined individuals should not be moving around, but since they might move around arbitrarily, this is to prevent that."

President Son emphasized the need for strict measures in novel coronavirus quarantine. He said, "I think it is better to respond excessively to novel coronavirus quarantine," and added, "It is desirable that the novel coronavirus ends early and normalcy is restored."

He also expressed confidence in the normalization of the operation of Seoul Metropolitan Subway Line 1. Recently, Line 1 has experienced confusion such as chain delays of regular trains due to the expansion of express services on metropolitan railways. President Son said, "At the beginning of this year, Line 1, a flagship project, implemented a complete revision of the train timetable for the first time in 30 years of the subway station's history, but due to simulation limitations, it caused massive delays and inconvenience." He pledged, "We will completely revise the train timetable again in early April to fully normalize operations."

Regarding the railway labor union, which is showing a confrontational stance, President Son took a cautious position. The Korea Railroad management has yet to find common ground with the railway union, which staged a strike at the end of last year demanding a 4-shift 2-team system reform. President Son said, "We will continue labor-management consultations for a smooth work system reform and closely cooperate with the government on discussions related to additional personnel to calculate appropriate manpower." He added, "Although the union announced plans for additional strikes in March, considering the current national emergency, I believe the union will cooperate."

This content was produced with the assistance of AI translation services.