Korea Expressway Corporation Explained

Korea Expressway Corporation
Type:	Government-owned corporation
Foundation:	February 15, 1969
Location:	77, Hyeoksin 8 ro, Gimcheon-si, Gyeongsangbuk-do, South Korea
Key People:	Ham Jin-gyu, President
Industry:	Road transport
Products:	Expressway
Num Employees:	4,220 (2014) ^[1]
Subsid:	Busan–Ulsan Expressway Co., Ltd.
Homepage:	http://www.ex.co.kr/eng/

Rr:	Hanguk Doro Gongsa
Mr:	Han'guk Toro Kongsa

Korea Expressway Corporation is a South Korean corporation running the toll roads of South Korea.^[2]

Timeline

• 1968 – Started construction of Gyeongbu Expressway
• 1969 – KEC founded (capital stock of 50billion won)^[3]
• 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

External links

• Official website (in English)
• Former website

Notes and References

1. Web site: Korea Expressway Corporation Purpose & Mission . Korea Expressway Corporation . 2011 . 2011-11-14 . dead . https://archive.today/20120801194943/http://www.ex.co.kr/english/company/cor_Overview/PnM/com_cor_pur.jsp . 2012-08-01 .
2. Web site: KEC Purpose & Mission. Korea Expressway Corporation. 2011. 2011-11-14. dead. https://archive.today/20120801194943/http://www.ex.co.kr/english/company/cor_Overview/PnM/com_cor_pur.jsp. 2012-08-01.
3. Web site: 기록물 생산기관 변천정보 > 기관연혁 상세정보. theme.archives.go.kr. ko. 2018-04-16.