Korea Expressway Corporation

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Korea Expressway Corporation
Government-owned corporation
IndustryRoad transport
FoundedFebruary 15, 1969
Headquarters77, Hyeoksin 8 ro, Gimcheon-si, Gyeongsangbuk-do, South Korea
Key people
Kangrae Lee , CEO
ProductsExpressway
Number of employees
4,220 (2014) [1]
Websitehttp://www.ex.co.kr/eng/
Korea Expressway Corporation
Hangul
Hanja
Revised RomanizationHanguk Doro Gongsa
McCune–ReischauerHan'guk Toro Kongsa

Korea Expressway Corporation (Hangul: 한국도로공사)[2] is a South Korean corporation running the toll roads of South Korea. Its mission is 'We build roads, connect people and cultures: Creating a new world'. Above all, it is doing its best to create a safe highway environment that people can trust and run.

Timeline[edit]

  • 1968 - Started construction of Gyeongbu Expressway
  • 1969 - KEC founded (capital stock of 50billion won)[3]
  • 1970 - Opened whole section of 428km Gyeongbu Expressway
  • 1973 - Opened the era of 1,000km 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 1,500km
  • 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 2,000km Expressway network
  • 2001 - Opened 423.2km 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 3,000km
  • 2010 – Rate of Hi-Pass use surpassed 50% and number of Hi-Pass users surpassed 5million
  • 2012 - Opened the era of 4,000km Expressway network

See also[edit]

References[edit]

  1. ^ "Korea Expressway Corporation Purpose & Mission". Korea Expressway Corporation. 2011. Archived from the original on 2012-08-01. Retrieved 2011-11-14.
  2. ^ "KEC Purpose & Mission". Korea Expressway Corporation. 2011. Archived from the original on 2012-08-01. Retrieved 2011-11-14.
  3. ^ "기록물 생산기관 변천정보 > 기관연혁 상세정보". theme.archives.go.kr (in Korean). Retrieved 2018-04-16.