Korea Rail Network Authority Significantly Reduces Usage Fees for Public Interest Railway National Property

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Rail Network Authority is significantly reducing the usage fees for railway national property for public interest purposes.

The Rail Network Authority announced on the 4th that starting this month, when local governments newly use railway national property for public interest purposes such as public parking lots, parks, and sports facilities, the usage fee will be lowered from the existing 2.5% of the property value to 1%.

The reduction of railway national property usage fees is being implemented in accordance with the revised Railway Industry Development Act in January and the enforcement decree of the same law approved at the Cabinet meeting last month.

Additionally, when acquiring national property for non-profit and public interest purposes, the entire usage fee for a usage permit period within one year from the date of sale will be exempted, thereby alleviating the financial burden on local governments.

Previously, local governments had continuously requested the government and the Rail Network Authority to reduce the financial burden caused by usage fees when using railway national property for public interest purposes.

Kim Han-young, Director of the Rail Network Authority, said, “We hope that the reduction of national property usage fees will practically help local communities and lead to the installation of convenience facilities that improve residents' quality of life. The Rail Network Authority will strive to enhance regional vitality through the efficient use of national property and contribute to balanced national development.”

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