Ulsan Metropolitan City Without Urban Rail... Hydrogen Tram to Launch in 2027

4th Financial Project Evaluation Committee Meeting on the 23rd

Kim Wan-seop, Vice Minister of Strategy and Finance, is delivering opening remarks while presiding over the 'Fiscal Project Evaluation Committee' held at the Export-Import Bank of Korea in Yeongdeungpo-gu, Seoul, on the morning of the 23rd.

The construction of Urban Railway Line 1 in Ulsan Metropolitan City is expected to be completed as early as 2027.

On the 23rd, the Ministry of Economy and Finance, led by Vice Minister Kim Wan-seop, held the ‘4th Fiscal Project Evaluation Committee’ at the Export-Import Bank of Korea in Yeongdeungpo-gu, Seoul, where it reviewed and approved the results of the feasibility re-investigation of major projects and the selection of projects subject to preliminary feasibility studies.

At this committee meeting, the Ulsan Urban Railway Line 1 construction project passed the feasibility re-investigation. The core of this project is to establish Korea’s first hydrogen electric tram in Ulsan to provide rail-centered public transportation services. It will create a 10.99 km urban railway (tram) connecting the east-west axis of downtown Ulsan with 15 stations. The total project cost is 328 billion KRW, with the project period extending until 2027.

The government evaluated that the Ulsan Urban Railway project is expected to improve accessibility for transportation-vulnerable groups, reduce traffic congestion costs, lead the hydrogen economy, and achieve carbon neutrality.

Additionally, to revitalize the regional economy through transportation innovation, four transportation facility projects were selected for preliminary feasibility studies. The Seohae Line~Gyeongbu Express Line connection will shorten travel times between major areas in Chungnam and the metropolitan area via high-speed rail, and the Wando~Gangjin Expressway will improve accessibility in the southwestern region of Jeonnam. The Hwanggeum-dong~Beoman Samgeori Road and Sajunggyo~Hanbat Bridge Road projects aim to alleviate traffic congestion in metropolitan areas such as Daegu and Daejeon.

Meanwhile, to strengthen integrated disaster response and crisis management capabilities, the next-generation 119 Integrated Information System construction project was selected for preliminary feasibility study.

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