360 Trillion Won Will Be Allocated for Road and Rail Construction Through 2020The government will spend 360 trillion won for constructing nation-wide railways and roads by the year 2020.
According to the plan, the government will construct two high speed railways running diagonally through the country in the shape of an X, seven major highways running north to south and nine east/west roads that will connect the whole country.
The Ministry of Construction and Transportation (MOCT) held a public hearing on October 23 and announced the details of the plan. MOCT intends to implement the plan in four steps.
In addition, MOCT plans to increase various port facilities.
To accomplish these, MOCT will raise taxes for transportation by an average of 10% annually until 2020.
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