Han Mun-hee, Korail President, Declares "The First Year of 'Digital New Management'... Leading Future Mobility"

Korea Railroad Corporation (KORAIL) has declared 2024 as the inaugural year of 'Digital New Management' and expressed its ambition to leap forward as a comprehensive mobility company.

Han Moon-hee, President of Korea Railroad Corporation (KORAIL) / Photo by Yonhap News

Han Moon-hee, KORAIL President, emphasized in his New Year's address at the opening ceremony held at the Daejeon headquarters on the 2nd, "In the new year, let us become KORAIL that leads future mobility and establishes railroad standards," adding, "As this year marks the meaningful 20th anniversary of KTX, let us strive to strengthen safety and improve services based on digital foundations for a new leap forward."

Specifically, the goals include ▲ digital-based safety innovation through scientific maintenance ▲ transformation into a comprehensive mobility company ▲ securing financial soundness through business portfolio restructuring ▲ nurturing future talents.

In the safety sector, aiming for 'zero major accidents and a 50% reduction in railroad accidents and failures,' KORAIL plans to invest 5 trillion won in safety and 1 trillion won in advanced technology by 2026, embarking on digital safety innovation. It will develop an integrated safety management platform based on artificial intelligence (AI) and big data, expand condition-based maintenance (CBM) systems, and promote automation and mechanization of tasks.

Additionally, centered on railroads, KORAIL will implement 'KORAIL-type MaaS (Mobility as a Service)' that connects services such as train tickets, rental cars, and luggage delivery into one, preparing to advance as a comprehensive mobility company.

Financial soundness will also be enhanced through diversification of the business portfolio. The plan is to achieve operating profit this year and reduce the debt ratio to the 100% range by 2026.

Furthermore, by expanding the KTX beneficiary areas, KORAIL aims to achieve transportation revenue of 5.1 trillion won by 2026. In the overseas railroad sector, it will focus on establishing future revenue-generating business models such as entering operation and maintenance (O&M) businesses. Measures for nurturing future talents include hiring advanced technology experts, adopting cloud systems, and creating smart work environments.

Meanwhile, on the same day, President Han visited the National Daejeon National Cemetery in the morning to honor the spirits of patriotic martyrs and national heroes, and paid respects at the railway Iwonseong Station in Okcheon-gun, Chungbuk, where the memorial tablets of fallen railroad workers are enshrined.

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