Railroad Corporation Announces Call for Operators to Utilize Idle Railroad Land

A panoramic photo of the Korea Rail Network Authority building (right) and Korea Railroad Corporation building (left) located in Dong-gu, Daejeon. Provided by Korea Rail Network Authority.

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Korea Rail Network Authority is launching a public offering for operators to utilize idle railway land.

According to the Rail Network Authority on the 26th, the total number of idle railway sites subject to the public offering is 31 locations, comprising 105 parcels (36,308㎡) in total.

Each idle railway site is highly utilizable, including commercial buildings adjacent to urban areas and stations along the Gyeongin Line, Gyeongui Line, and Gyeongbu Line routes, as well as spaces under overpasses, so the Rail Network Authority expects strong interest from potential lessees.

The public offering will be conducted online to avoid face-to-face contact, considering the spread of the novel coronavirus infection (COVID-19).

Additionally, for operators who find it difficult to visit the sites in person, information such as the location of the rental sites, on-site photos, and estimated bid prices will be disclosed on the Rail Network Authority’s website to facilitate easier participation in the bidding process.

For more detailed information about the public offering, please refer to the Rail Network Authority’s website or contact the property management department of the regional headquarters.

Kim Sang-gyun, Director of the Rail Network Authority, said, “We are inviting operators to increase the utilization of national property and revitalize the local economy,” adding, “We hope this public offering will provide practical help in generating new revenue for operators, revitalizing the local economy, and creating jobs.”

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