Korea Expressway Corporation (
Hangul
The Korean alphabet, known as Hangul, . Hangul may also be written as following South Korea's standard Romanization. ( ) in South Korea and Chosŏn'gŭl in North Korea, is the modern official writing system for the Korean language. The let ...
: 한국도로공사) is a South Korean corporation running the toll roads of South Korea.
Timeline
* 1968 – Started construction of
Gyeongbu Expressway
The Gyeongbu Expressway ( ko, 경부고속도로; ''Gyeongbu Gosokdoro'') ( Asian Highway Network ) is the second oldest and most heavily travelled expressway in South Korea, connecting Seoul to Suwon, Daejeon, Gumi, Daegu, Gyeongju, Ulsan a ...
* 1969 – KEC founded (capital stock of 50billion won)
* 1970 – Opened whole section of 428 km Gyeongbu Expressway
* 1973 – Opened the era of 1,000 km Expressway network
* 1973 – Established a Survey Institute (Currently Transport Research Institute)
* 1978 – Daily number of vehicles using expressways surpassed 100,000
* 1980 – Launched integrated tolling system
* 1984 – Opened a traffic information broadcasting studio
* 1987 – Total length of expressway exceed 1,500 km
* 1988 – Daily toll revenue surpassed 1 billion won
* 1990 – Total assets exceeded 1 trillion Korea won
* 1994 – Mechanized toll collection system (TCS) at all toll gates
* 1994 – Total assets surpassed 5 trillion won
* 1994 – Introduced the first bus-only lane
* 1997 – Built nationwide independent communications network
* 1999 – Started
Hi-Pass pilot project
* 1999 – Opened the era of 2,000 km Expressway network
* 2001 – Opened 423.2 km expressways
* 2003 – Arranged foreign capital at low interest rates (US$500mil, 10year maturity)
* 2007 – Expanded Hi-Pass service to nationwide
* 2007 – Total length of expressways exceed 3,000 km
* 2010 – Rate of Hi-Pass use surpassed 50% and number of Hi-Pass users surpassed 5 million
* 2012 – Opened the era of 4,000 km Expressway network
See also
*
Expressways in South Korea
Expressways in South Korea (), officially called as National expressways (), are operated by the Korea Expressway Corporation. They were originally numbered in order of construction. Since August 24, 2001, they have been numbered in a scheme s ...
References
External links
Official websiteFormer website
Toll road operators
Transport operators of South Korea
Road transport in South Korea
Government-owned companies of South Korea
Transport companies established in 1969
South Korean companies established in 1969
Companies based in North Gyeongsang Province
Gimcheon
{{SouthKorea-company-stub