South Korea to increase investment in high-speed rail

South Korea to increase investment in high-speed rail

South Korean authorities have announced plans to improve connectivity between its major cities by linking them through a high-speed rail network. The government plans to increase the coverage of high-speed railway from 368km in 2011, to 2,362km by 2020.

The recent report details plans to invest in infrastructure to boost tourism, education, healthcare, city planning, energy, and transport to the value of KRW 2.1 trillion ($2bn USD).

The forthcoming 2018 Winter Olympic Games in Pyeongchang have led to investments of KRW 13 trillion ($10.8bn USD) towards the construction of stadiums and other related infrastructure.

The project will be rolled out through a public-private partnership with an investment of KRW 88 trillion ($81.9bn USD).

For more information see the Timetric report, Construction in South Korea – Key Trends and Opportunities to 2020.

(CC image courtesy of Ian Muttoo)

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