South Korea government’s US$108.61bn for transport infrastructure

The South Korean government is supporting 167 infrastructure projects, including the construction of new expressways, nationwide with an investment of US$108.61 billion (KRW 124tn), according to the Ministry of Strategy and Finance. Under the plan, the government will invest $35.2 billion (KRW 40tn) on 71 projects that have already been launched. It will spend another $73.41 billion (KRW 84tn) on 96 new projects. The government will seek as much investment from the private sector as possible to ease the bur
July 9, 2013 Read time: 1 min
RSSThe South Korean government is supporting 167 infrastructure projects, including the construction of new expressways, nationwide with an investment of US$108.61 billion (KRW 124tn), according to the Ministry of Strategy and Finance.

Under the plan, the government will invest $35.2 billion (KRW 40tn) on 71 projects that have already been launched. It will spend another $73.41 billion (KRW 84tn) on 96 new projects. The government will seek as much investment from the private sector as possible to ease the burden on the state.

As well as money for new expressways, other infrastructure spending will be on railroads and other transportation facilities, as well as the set-up of research or industrial complexes. The major investment was part of the election campaign pledges by President Park Geun-hye.

Related Content

  • South Korea-North Korea highway link?
    May 18, 2015
    An optimistic tone in South Korea is seeing the construction of an expressway connecting Seoul and Munsan. The project is being carried out in a bid to boost trade with North Korea. This is in spite of the current uncertain political situation in North Korea. The expressway will connect South Korean capital Seoul to Munsan, which lies to the south of the Demilitarised Zone bordering North Korea. More private investment can be roped in via the plan to build the expressway. An environmental impact assessment
    Read More
  • Senior ADB figure urges governments to act on sustainable transport
    September 27, 2013
    Multilateral development banks (MDB) are determined to do all they can to encourage governments of developing countries meet key sustainable transport targets, according to a senior figure at one of the world’s biggest MDB’s. Guy Woodford reports Tyrrell Duncan, Asian Development Bank’s (ADB) director of Transport and Communications Division, East Asia has been at the forefront of MDB efforts to enhance sustainable transport and road safety in developing countries. Speaking during a break in talks at the In
    Read More
  • San Miguel Corp is among bidders in Cavite-Laguna re-auction
    March 19, 2015
    San Miguel Corporation, Metro Pacific Investments Corporation and an unidentified firm reportedly are bidding in the US$1.25 billion re-auction for work on the Cavite-Laguna Expressway. The deal involves building, operating and maintaining the 47km four-lane toll road for 35 years under a public-private-partnership. The sum includes a $448 million bid price, equal to the premium offered by SMS subsidiary Optimal Infrastructure Development during the first tender for the project in June 2014. San Miguel was
    Read More
  • The US National Operations Centre of Excellence launches website
    January 21, 2015
    In the United States, the National Operations Centre of Excellence has officially launched a web site to provide the transportation sector with the latest knowledge and management tools. Practitioners, researchers and policymakers will find on the site the latest resources and have the opportunity to discuss topics related to systems management and operations. The centre launched its website at the Transportation Research Board annual meeting in Washington, D.C. in mid January. Click here to view the site
    Read More

Highlighted Content