Choi Sang-mok Visits Chuncheon Railroad Corporation Site: "Public Sector as a Catalyst for Construction Investment"
Expressing Commitment to Rapid Execution of SOC Projects
Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, visited the construction site of Section 7 of the Chuncheon-Sokcho railway in Goseong-gun, Gangwon Province on the 19th and expressed his commitment to the rapid execution of social overhead capital (SOC) projects.
On the day, Deputy Prime Minister Choi stated, he expects the Chuncheon-Sokcho section to be a key project of the east-west railway axis connecting the metropolitan area and northern Gangwon region, contributing to travel convenience and balanced development. He also mentioned that amid the current difficulties in the construction industry due to high interest rates and unsold housing, the public sector will play a leading role in SOC construction investment to help recover the construction economy.
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This year, the SOC budget increased by approximately 1.4 trillion won from the previous year to 26.4 trillion won. The government plans to focus on investing 15.7 trillion won (65%) in the first half of the year out of the 24.2 trillion won designated for rapid execution related to economic revitalization.
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