| Title |
Strategy Development for Expanding High-speed Railway into both Korean Domestic Market and Foreign Market |
| Keywords |
high-speed railway;private investment project;international construction;foreign high-speed railway market;고속철도;민간투자사업;민간선투자제도;해외건설;해외고속철도 |
| Abstract |
High-speed railway raises global interests with the growing concerns on the green development and the green energy. However, since most of the infrastructure investment of Korea was focused on the highway projects for last forty years, the investment on the railway has been limited around 40~50% of that of the highway projects. In addition, due to the world economy crisis and unsatisfactory support of existing policy for the private investment project, the private investment is given a small deal of weight on the social overhead capital investment. Meanwhile, despite the world high-speed railway market is growing rapidly and the Korean contractors have won the international construction contracts over 70 billion USD, past records of railway projects are very rare. Therefore, it is required to develop strategies for encouraging private investment in the domestic market to achieve efficient high-speed railway development and for advancing into foreign high-speed railway market. This study carried out data collection and market analysis for both domestic and foreign market respectively. Through a structured questionnaire survey and expert interviews, contractors" perceptions on the high-speed railway market and needs for the government support are collected. Summary of strategies drawn from this study are as follows: 1) carrying out BTL high-speed railway projects and revising related policies; 2) upwarding incentive level for the private pre-investment projects considering the contractors" credit rating; 3) carrying out Honam-Jeju submarine railway project; 4) establishing a efficient consortium model for foreign market; 5) improving the capacity of the Korea Railway Association that support Korean contractors" foreign advancement; and 6) expand the budget for Global Infra-fund. |