East Asian Journal of Business Economics (EAJBE) (동아시아경상학회지)

East Asia Business Economics Association (동아시아경상학회)
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The Effect of the Introduction of the Express Highspeed Railway in Korea

  • Received : 2022.10.11
  • Accepted : 2022.11.14
  • Published : 2022.12.30
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Abstract

Purpose - In today's era of carbon neutrality, railways need to find ways to improve usability and efficiency. Accordingly, this study examines the effect of introducing express highspeed railways into the Korean public transportation system and suggests some practical guidelines. One concern in the Korea railway sector is that low scheduled speeds contrast with the highspeed railway system design. Research design, data, and methodology - Current literature and foreign cases are analyzed. Subsequently, using data from the Korean Railroad Research Institute, a benefit analysis is conducted based on expanded track capacity and the saving of time owing to the introduction of the express highspeed railway. Result - The express highspeed railway system is expected to increase the number of train lines from 262 to 348 and the scheduled speed from 168.3km/h to 192.2km/h. Considering reduced time value, the economic effect is about 80 million won per year. Conclusion - The findings suggest that the express highspeed railway is a promising option to improve efficiency and increase customer utility. This study contributes to the literature by initiating a discussion on the express system in Korea; practically, it offers railway operators guidelines for improving highspeed railway system efficiency that can be transformed into a variety of marketing options.

Keywords

Acknowledgement

This study was supported by a research grant from R&D program (Core Technologies Development for Enhancing Operational Efficiency of Railway Network: PK2202D1) of the Korea Railroad Research Institute.

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