Chungcheong Region Metropolitan Railroad Vehicle Purchase Cost 'Increased National Funding Support'

The national government subsidy rate for vehicle purchase costs in the Chungcheong region metropolitan railway project has been increased.

On the 13th, Daejeon City announced that it recently secured an additional 17.5 billion KRW in national funding for vehicle purchase costs for the "Chungcheong Region Metropolitan Railway Phase 1 Project" and others.

According to Daejeon City, Article 13, Paragraph 1 of the Enforcement Decree of the Metropolitan Transportation Act stipulates that the project cost burden is shared by 70% from the national government and 30% from local governments.

However, for the currently ongoing "Chungcheong Region Metropolitan Railway Phase 1 Project" and the "Daejeon~Okcheon Metropolitan Railway Project," the vehicle purchase costs (totaling 87.1 billion KRW) were set at a 50% national subsidy rate according to the preliminary feasibility study by the Ministry of Strategy and Finance and the basic plan by the Ministry of Land, Infrastructure and Transport.

In response, Daejeon City began by submitting a proposal to the 20th Presidential Transition Committee to secure additional national funding and requested an increase in the national subsidy rate for vehicle purchase costs of metropolitan railway projects outside the metropolitan area from the National Assembly, Ministry of Strategy and Finance, and Ministry of Land, Infrastructure and Transport.

Furthermore, as Daejeon City took the lead and four cities and provinces in the Chungcheong region along with Daegu City jointly submitted proposals and continuously persuaded the central government, on the 30th of last month, the Ministry of Strategy and Finance’s total project cost review committee finally approved raising the national subsidy rate for vehicle purchase costs to 70%.

Taking this as an opportunity, Daejeon City explained that the national subsidy for vehicle purchase costs in the Gyeryong~Sintanjin section of the "Chungcheong Region Metropolitan Railway Phase 1 Project" will increase from 31.3 billion KRW to 43.9 billion KRW (an increase of 12.6 billion KRW), and for the "Daejeon~Okcheon Metropolitan Railway Project," it will increase from 12.2 billion KRW to 17.1 billion KRW (an increase of 4.9 billion KRW).

A Daejeon City official said, "By additionally securing national funding for metropolitan railway vehicle purchase costs, we can achieve fiscal soundness and a more flexible project implementation," adding, "Daejeon City will continue to closely cooperate with the Ministry of Land, Infrastructure and Transport and related local governments to ensure the smooth progress of the Chungcheong Region Metropolitan Railway Phase 1 Project, including its groundbreaking within this year."

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