Improving 80 Major Intersections Nationwide... Economic Benefits Total '220 Billion Won'

Road Traffic Authority Conducts Traffic Environment Improvement Project
Speed Increases by 12.6% and Delay Time Decreases by 19.1%
Traffic Safety Improves by 17.9%

Comparison before (left) and after signal operation improvement at the intersection in Yongjeong-dong, Sangdang-gu, Cheongju-si, Chungbuk.
[Photo by Road Traffic Authority]

[Asia Economy Reporter Lee Gwan-joo] The Korea Road Traffic Authority has reported that improving the signal systems and traffic safety facilities at major intersections nationwide has generated economic benefits exceeding 220 billion KRW annually. This figure reflects reductions in travel time and environmental cost savings.

On the 13th, the Korea Road Traffic Authority announced that it conducted traffic environment improvement projects at 80 major intersections in residential areas across the country this year.

The Authority, in collaboration with the police, local governments, and other related agencies, improved signal systems and traffic safety facilities at key intersections in residential areas, including locations with frequent pedestrian accidents involving the elderly and children, as well as commercial and apartment-dense areas where congestion and traffic accidents frequently occur during specific times.

As a result, vehicle speeds around the intersections increased by 12.6% (from 21.4 km/h to 24.1 km/h), and delay times decreased by 19.1% (from 101.2 seconds/km to 81.9 seconds/km). When converted into monetary terms, the improvements are estimated to generate approximately 228.1 billion KRW in annual economic benefits, including travel time cost savings.

Furthermore, traffic safety is expected to improve by about 17.9% according to the SSAM simulation analysis. This simulation model, developed by the U.S. Federal Highway Administration (FHWA), links with traffic simulation programs to analyze vehicle conflicts on roads and measures traffic safety using a surrogate safety assessment model.

A representative from the Korea Road Traffic Authority stated, "Next year, we plan to establish highly effective improvement measures at 80 major residential intersections that the public can tangibly experience," adding, "We will strive to enhance vehicle flow and reduce and prevent traffic accidents."

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