• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.20 no.1
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• pp.119-131
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• 2021

This study quantitatively derived the direct socio-economic effects of the Gyeongbu Expressway, which opened in 1970, and suggested a methodological approach for more reliable results. The scenario was set when the Gyeongbu Expressway was not constructed in 1970, the opening of the Gyeongbu Expressway was delayed by 10 years, and the toll road between Seoul and Daejeon, or between Seoul and Gangneung was opened instead of the Gyeongbu Expressway as suggested by the World Bank. In addition, direct benefits were estimated by calculating and comparing the current vehicle operating costs, travel time costs, traffic accident costs, and environmental pollution costs. As a result, it was estimated that about 351 trillion won in direct benefits occurred, and it can be seen that the promotion of the construction project of the Gyeongbu Expressway at that time had a huge impact on South Korea's social economy.