Abstract
Korean railway has run about 110 years since 1989 and played a great role of industrialization in Korea. It is known that rail transport systems have many advantages of being more safe, energy-efficient, and environment-friendly, as compared to other transportation systems. However, railway incidents are often attributed to the failure of safety management and critical to the efficiency of railroad industry. This study reviewed economic, financial, and general statistical information on Korea Railroad. Based on the statistical data, the effect of accidents on railroad management was analyzed. Correlation analysis revealed that railway accident had a negative effect on the gross profit of Korea Railroad. In order to reduce potential risks and incident rate, some recommendations are proposed. Actual or potential applications of this research include safety guidelines for improving efficiency of railroad industry.
