KTX Gwangyang Stopover Promotion Gains Momentum

Securing Economic and Financial Feasibility for Gwangyang Station Stop

Gwangyang City in Jeollanam-do announced on the 7th that the interim report of the feasibility study for KTX-Eum stop at Gwangyang Station on the Gyeongjeon Line showed that the stop is feasible.

The report meeting was attended by Jeong In-hwa, Mayor of Gwangyang, Baek Jeong-il, Vice Chairman of the Gyeongjeon Line KTX-Eum Private Promotion Committee, and officials from related organizations such as Yeosu Gwangyang Port Corporation and Gwangyang Chamber of Commerce and Industry, who received the feasibility analysis report for the KTX-Eum stop at Gwangyang Station on the Gyeongjeon Line and conducted a mid-term review of the progress.

[Photo by Gwangyang City]

According to the study report, both the economic and financial feasibility of the KTX-Eum stop at Gwangyang Station on the Gyeongjeon Line have been secured, which is expected to give further momentum to Gwangyang City's push for the KTX stop at Gwangyang Station.

In particular, the cost-benefit analysis of the KTX-Eum stop at Gwangyang Station on the Gyeongjeon Line was divided into no stop, 3 stops, 5 stops, and 10 stops, and the results showed that the more stops there are, the higher the cost-benefit ratio compared to no stop.

The reason for the high cost-benefit analysis is that the station building and existing facilities at Gwangyang Station are secured, so no additional construction costs are required, and future transportation demand is expected to increase significantly.

Furthermore, policy recommendations followed, predicting that if facility investments such as additional parking lots and road improvements are made at Gwangyang Station, continuous population inflow and future demand for use will increase even more.

Gwangyang City plans to submit the analysis results of this study to the Ministry of Land, Infrastructure and Transport and Korea Railroad Corporation to accelerate the inclusion of the Gwangyang Station stop in the Gyeongjeon Line KTX-Eum route plan, which will be decided in the second half of this year.

Jeong In-hwa, Mayor of Gwangyang, said, “This interim report meeting was a meaningful occasion that secured the technical and economic feasibility of the long-cherished KTX-Eum stop at Gwangyang Station on the Gyeongjeon Line for Gwangyang citizens,” and added, “I once again ask for active support and cooperation from related organizations and departments so that the KTX-Eum will definitely stop at our city.”

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr