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

  • NSW Australia investing in transport
    June 20, 2013
    Australia’s New South Wales (NSW) Government has outlined its massive transportation investment in the WestConnex project. This will be the largest urban transport project in the history of New South Wales. Some A$1.8 billion will be invested over four years from Restart NSW, the state’s new infrastructure fund. to finance the WestConnex project. And A$111 million will be committed in 2013-14 to get work underway on the 33km motorway. The NSW Government will fund the initial sections of the motorway. Privat
    Read More
  • Russia transport infrastructure cash for 2018 FIFA World Cup
    May 7, 2013
    New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA World Cup. Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event. To pay for the huge infrastructure spending the Russian government is reported to have ordered
    Read More
  • Odebrecht wins Brazilian highway concession
    November 29, 2013
    Odebrecht has been awarded a concession for Brazil’s important BR-163 federal highway route. The 851km section of highway runs through Mato Grosso state and the deal is worth some US$2 billion, according to a report by Business News Americas. As part of its contract, Odebrecht will have to widen a 454km stretch of the route within five years and is also required to build nine new toll booths.
    Read More
  • New South Korea highway plans
    January 13, 2017
    South Korea is planning a series of highway projects, with existing routes to be expanded and new stretches to be built. The country’s Ministry of Land, Infrastructure and Transport has set out a programme of works that will run until 2020. The work planned includes widening 10 existing highways as well as constructing a further 13 new highways. Construction of the roads will help to generate 290,000 jobs and deliver an economic benefit to the country expected to reach US$77.35 billion. The South Korean Gov
    Read More

Highlighted Content