KOREA published its 4th Nationwide Railway Plan on April 22 outlining the country's future rail strategy. After a review by the Railroad Industry Commission, the Ministry of Land, Infrastructure and Transport (Molit) officially announced the approval of the new plan on July 5, confirming that Korea will invest Won 114.7 trillion ($US 99.88bn) in rail. While these plans cover a 10-year period, they have been updated every five years since the first one was produced in 2006. The fourth plan has the goal of creating a competitive rail network that can become the centre of green mobility in Korea. To achieve this Molit has outlined seven main objectives: 1.boosting the efficiency of rail operations 2.connecting major hubs by high- speed rail 3.expanding regional lines outside of the greater Seoul region 4.reducing traffic congestion in and around the capital 5.creating a foundation for industrial development 6.establishing a safe and convenient environment for users, and 7.preparing for reinstating rail links with North Korea and the rest of Asia.
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