JEOLLABUK-DO < invest Korea

According to Yonhap News,

JEONJU, Oct 10 (Yonhap) -- A project to connect the port of Saemangeum and Gunsan city in Jeonbuk Province has been passed its initial step. The province made an official statement that the Ministry of Land, Infrastructure and Transportation has chosen the project as the target of preliminary feasblility study and sent the outline to the Ministry of Economy and Finance, an examining body of the process. The result of the assessment comes out in December.

The investment plan worth KRW 2,953 billion describes that the train track bridging between two areas extends to 47.6km and the construction comes to an end in 2028.

Once the project is over, the railroad will improve the connectivity within the vicinity, further increasing the volume of traffic. The project has already been proved to be very economic by government led feasibility study conducted early this year.

The province says "This project will lay a foundation for the infrastructure nearby, making this place a new hub of transportation while attracting subsequent investment and development. We'll keep working on and give full support to the plan to be well financed as part of national development initiatives."

The head of the council says "We're going to have subsequent workshop event at the end of this year in Jakarta, Indonesia and other South East Asian countries to consolidate business network with ASEAN partners."

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Source: Yonhap News (Oct 10, 2019)