Korea Rail Network Authority Announces New Orders Worth 2.3093 Trillion KRW in Railway System Sector

The Korea Rail Network Authority announced on the 27th that it will invest 2.3093 trillion KRW this year in the construction and improvement projects in the railway system fields such as electricity, signaling, communication, track, and vehicles.

New construction orders in the construction sector will include a total of 107 projects with an investment of 1.108 trillion KRW, such as the Incheon-origin and Suwon-origin KTX direct connection project to expand high-speed rail service in the southern metropolitan area, the electrification project of the Janghang Line section from Jupo to Daeya to expand the West Sea Line electric railway network, and the new KTCS installation project on the Gyeongbu High-Speed Line.

New orders in the service sector will include a total of 238 projects with an investment of 612.8 billion KRW, such as design services for the Southern Inland Railway, Indeogwon?Dongtan, Gangneung?Jejin railway construction, and precision diagnosis and performance evaluation services in the electricity and communication fields. Additionally, a total of 168 new material orders, including train control systems and optical multiplexers, will be invested with 588.5 billion KRW.

Starting this year, the Authority plans to integrate construction and improvement projects for adjacent sections in the railway system field and for the same type of materials to prevent redundant investments and strengthen safety management for operating line sections.

Kim Han-young, President of the Korea Rail Network Authority, said, "To revive the sluggish economy and boost economic vitality, we will actively promote orders in the first half of the year and contribute to job creation through prompt project expenditure."

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