Korea Rail Network Authority to Issue New Orders Worth 563.5 Billion KRW for Railway Electrification Projects This Year

Order Volume Expanded by 53% Year-on-Year... Creating a Safe Train Operation Environment

The exterior view of the Korea Rail Network Authority headquarters.

[Asia Economy Reporter Kangwook Cho] The Korea Rail Network Authority announced on the 5th that it will newly order projects worth 563.5 billion KRW, a 53% increase from last year, for the improvement of aging railway electrical facilities such as electric power for subways, signaling, and communication.

The main project includes the new design of electrical facilities for the first phase section of the Gyeongbu High-Speed Railway (Gwangmyeong~Daegu), which is scheduled to be ordered starting in October. Among these, the improvement work for the Cheonan~Daejeon section, whose design has been completed, will be actively implemented from this month until 2024 with an investment of 160 billion KRW.

A total of 159 billion KRW will be invested this year for the improvement of aging electrical facilities on metropolitan subway lines that have been in operation for over 20 years, including the Bundang Line (Seolleung Station~Ori Station), Ilsan Line (Jichuk Station~Daehwa Station), Gwacheon Line (Seonbawi Station~Geumjeong Station), Gyeongin Line (Guro Station~Incheon Station), Gyeongbu Line (Guro Train Depot), and Ansan Line (Geumjeong Station~Ansan Station). Some sections are expected to be newly ordered starting in May.

Additionally, the Authority plans to actively promote the improvement of aging facilities by investing 267 billion KRW this year in upgrading existing line sections such as the Gyeongbu Line and Yeongdong Line, including subway substations, train control systems, and communication system facilities.

Director Kim Han-young stated, "We will continuously promote railway improvement projects to ensure that the public can use the railway safely. To revitalize the domestic economy, which has been stagnant due to the prolonged COVID-19 pandemic, we will place early orders in the first half of the year to lead the recovery of the regional economy and job creation."