Korea Rail Network Authority to Invest 1.2 Trillion Won in Railway Facility Upgrades This Year

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

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[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Rail Network Authority announced on the 9th that it will invest a total of 1.2971 trillion won this year in the renovation of aging railway facilities.

The renovation budget will be divided into 863.1 billion won (66.5%) for the digitalization of national safety SOC and performance improvement of aging facilities, and 434 billion won (33.5%) for expanding passenger safety facilities such as screen doors and convenience facilities.

In particular, the Rail Network Authority plans to expedite the execution of more than 791.2 billion won (61%) of the facility renovation budget in the first half of this year to revitalize the economy, which has been stagnant due to COVID-19.

Through this, the Rail Network Authority expects to create about 12,000 jobs, contributing to employment stability.

Kim Sang-gyun, Director of the Rail Network Authority, said, “We will continue to invest in railway infrastructure renovation projects to establish a smart infrastructure management system,” adding, “This will enable the public to use railways more safely and comfortably.”

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