Railway Corporation Issues New Orders Worth 553 Billion KRW for Railway System Improvement Project
[Asia Economy (Daejeon) Reporter Jeong Il-woong] Korea Rail Network Authority announced on the 11th that it will launch new projects worth a total of 553 billion KRW (a 55% increase from the previous year) this year in the railway system improvement sectors including electricity, signaling, and communications.
In particular, despite the high number of train passengers, the Authority plans to invest 151 billion KRW by 2022 to upgrade three metropolitan railway lines with aging facilities: the Bundang Line (Seolleung Station to Ori Station), the Ilsan Line (Jichuk Station to Daehwa Station), and the Gwacheon Line (Seonbawi Station to Geumjeong Station).
Additionally, the Authority will issue a contract in September for the electrical and communication upgrades on the Cheonan?Daejeon section of the Gyeongbu High-Speed Railway, and will also launch 144 system improvement projects including signaling upgrades on the Gyeongbu Line section from Sindong to Busan and communication upgrades on the Honam Line section from Iksan to Mokpo.
Furthermore, the Authority plans to collaborate with Korea Railroad Corporation (KORAIL), the railway operator, to shorten train operation times and secure construction periods to ensure timely completion of the projects.
Above all, the Authority intends to divide the new projects by construction sections to expand opportunities for small and medium-sized enterprises to participate, and to enhance its social value as a public enterprise by purchasing some goods produced by persons with disabilities and social enterprises.
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Korea Rail Network Authority Director Kim Sang-gyun stated, “We will expand system improvement projects so that the public can use the railway safely and comfortably,” adding, “Moreover, by executing the project budget early, we will play a leading role in job creation and revitalizing the local economy.”
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