Korea Rail Network Authority Announces 2.3 Trillion KRW New Orders in Railway System Sector

The Korea Rail Network Authority announced on the 27th that it will invest 2.3093 trillion KRW this year in the construction and improvement projects in the railway system sectors including electricity, signaling, communications, tracks, and vehicles.

A panoramic photo of the Korea Rail Network Authority building (right) and Korea Railroad Corporation building (left) located in Dong-gu, Daejeon. Provided by the Korea Rail Network Authority.

First, in the construction sector, orders worth approximately 1.108 trillion KRW will be placed for 107 projects, including the Incheon-Suwon KTX direct connection project, the electrification project of the Janghang Line section from Jupo to Daeya to expand the Seohae Line electric railway network, and the new KTCS installation project on the Gyeongbu High-Speed Line.

In the service sector, about 612.8 billion KRW will be invested in 238 projects, including design services for the Southern Inland Railway, Indeogwon-Dongtan, and Gangneung-Jejin railway construction, as well as precision diagnosis and performance evaluation services in the electricity and communications fields. For new material orders, 588.5 billion KRW will be allocated to 168 projects, including train control systems and optical multiplexers.

The Rail Network Authority plans to integrate construction and improvement project orders in adjacent sections of the railway system sector and in the same material categories starting this year to prevent redundant investments and strengthen safety management for operating line sections.

Kim Han-young, Director of the Rail Network Authority, stated, “To support domestic economic recovery and boost economic vitality, we will actively promote orders in the first half of the year and strive to create many high-quality jobs through prompt project expenditure.”