Amid growing expectations that South Korea would expand its investments in infrastructure buildup in the North, Hyundai Asan Corp. yesterday said it is trying to push ahead with a project to restore a severed portion of he Kyongui Railroad connecting Seoul with Sinuiju at the northwestern tip of the North.
Shipping is a key means of transportation between the South and the North.
The plan to extend the railroad to Haeju by Hyundai indicates that Hyundai is considering Haeju as the development site on the west coast, industry sources said. As for investment or management details, Hyundai Asan Corp. said it is considering handing over its operation rights to the North Korean authority after it makes some profits from collecting usage fees. Hyundai Asan Corp. is also thinking of constructing freight terminals where containers and other transportation facilities can be stored. Meanwhile, the Construction and Transportation Ministry is separately pushing forward the plan of reconstructing the Kyongwon and Kumgang Railroads, iner-Korean railroads which have also been out of service for several decades.