Korea Rail Network Authority to Place New Orders Worth 1.4 Trillion KRW in Railway Technology Sector This Year

The exterior view of the Korea Rail Network Authority headquarters.

[Asia Economy Reporter Jo Gang-wook] The Korea Rail Network Authority announced on the 5th that it will issue new projects worth approximately 1.4 trillion KRW this year in the field of railway technology (electricity, signaling, communication, track, and vehicles), including electrification projects.

Specifically, there will be 72 construction projects (650 billion KRW), 105 design and supervision projects (170 billion KRW), and 175 procurement projects (600 billion KRW).

This year, the Authority will officially start construction projects such as the electrification of the Donghae Line from Pohang to Donghae and the Gyeongjeon Line from Boseong to Imseong-ri, and will issue design contracts for the Wolgot to Pangyo and Indeokwon to Dongtan double-track electrified railway construction projects.

In particular, the Donghae Line is being promoted with the goal of completion by the end of next year, and once opened, a unified transportation system with low carbon emissions will be established for the entire section from Busan to Gangneung as an eco-friendly electric railway.

Additionally, the Authority plans to expedite the issuance of projects worth about 870 billion KRW (59.2%) in the first half of the year to lead the overcoming of crises faced by partner companies struggling due to COVID-19.

Chairman Kim Sang-gyun stated, "We will actively promote electrification projects so that more citizens can use eco-friendly railways," adding, "We will continue to do our best to provide the public with a fast, safe, and comfortable railway network."

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