Establishment of Gyeonggi Transportation Corporation... Operations to Begin in December

Capital of 18.5 Billion Won, Total Staff 98... First President Jeong Sang-gyun, Former Provincial Balanced Development Planning Director

[Asia Economy Reporter La Young-chul] The 'Gyeonggi Transportation Corporation,' a key pledge of Gyeonggi Province's 7th local government administration to strengthen public transportation, recently completed corporate registration and business registration, and will begin full-scale operations starting in December.

According to the province on the 13th, the 'Gyeonggi Transportation Corporation' is a dedicated transportation organization that integrates and manages the public transportation systems of cities and counties within the province, which have diverse regional characteristics such as urban and rural complexes. Its purpose is to provide more professional and efficient public transportation services.

This is the first time a metropolitan local government at the provincial level has established a transportation corporation. Going forward, it will function as an integrated control tower for public transportation, managing and operating public buses in Gyeonggi Province, constructing and operating railway networks, expanding public transportation transfer facilities, and operating new transportation modes.

The province particularly expects that, based on last year's feasibility study for establishing the corporation, it will generate an economic effect of 183.9 billion KRW in production and added value and create 1,047 jobs over the next five years.

The organization consists of one headquarters (Management Planning Headquarters), four teams (Management Planning Team, Semi-Public Operation Team, Metropolitan Transportation Facilities Team), and one center (Bus Transportation Center). The total staff, including bus drivers, is 98 people. The capital for project promotion is 18.5 billion KRW, fully invested by Gyeonggi Province.

The headquarters building was established in Okjeong-dong central commercial district of Yangju City through a city and county public contest. The relocation of the transportation corporation to Yangju City, which is subject to overlapping regulations such as metropolitan area regulations and military protection zones, is expected to become a driving force for metropolitan transportation development in the northern Gyeonggi region.

The inaugural executives include Jeong Sang-gyun, former Director of the Balanced Development Planning Office with extensive administrative experience including as Deputy Mayor and provincial department heads, serving as president; and Lee Hoe-su, Standing Deputy Chair of the Democratic Party Policy Committee, who has served as a specialist at the Presidential Committee on Jobs and as a non-executive auditor at the Research and Development Special Zone Promotion Foundation, serving as a standing director. In total, 10 non-executive directors and auditors participate.

Following the completion of corporate registration, the Ministry of the Interior and Safety will complete establishment reporting and designation/announcement this week, and the first board meeting will be held on the 17th to approve the business plan, budget, and regulations.

The total staff is 98, with about 30 new and experienced general positions to be recruited through open competitive exams in December. Sequential regular employee hiring is expected to be completed by February next year.

President Jeong Sang-gyun said, "In the early stages of establishment, we will focus on uninterrupted provision of convenient and safe public transportation services such as public bus operations and organizational stabilization, and we will apply big data to innovatively operate integrated public transportation including buses, railways, and transfers."

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