We performed an safety evaluation on constructing of a common grounding system for electrical railway in view of its efficacy and technical fit. In order to compare the conventional grounding method, which has been individually conducted, with the common grounding with all ground wires connected in common to the counterpoise buried below the surface of the earth in parallel with rail, we set up scenarios with several cases of fault and load conditions in Chungbuk railway sections with the common grounding system. Based on models for railway conductors including the grounded system, line Parameters of railway power system are computed. The circuit model for power system with up and down lines, auto-transformers and railway substations is used to compute impedances of counterpoise and substation ground net. For each scenario with faults and operation conditions of railway, the induced potentials on signal and communication lines are also computed. It is shown that the common grounding for Chungbuk railway is superior experimentally to the conventional method in three respects: (1) the lower rail potentials during operation of railway in line, (2) the lower rail potentials for short-circuit faults between catenary and rail, and (3) the lower stress voltages on signal and communication lines for short-circuit or ground faults. The analysis results confirm that the grounding system for electric railway is required to be built by the common grounding and be evaluated on its safety in design.