Korea Railway Corporation expects a deficit of over 1 trillion won for three years until 2025...interest burden will be 1 billion won per day

Korea Railroad Corporation (KORAIL), which operates South Korea's high-speed railway "KTX" and other railways, is expected to fall into a deficit of more than 1 trillion won (approximately 111 billion yen) over the three years from 2023 to 2025.
The company will have to pay about 1 billion won (about 110 million yen) in interest per day over the next five years. This became clear from the documents submitted by the public corporation to the National Diet Committee on Land, Infrastructure, Transport and Tourism.
Ta. According to the data, the corporation is expected to record a net deficit of more than 1.2 trillion won from 2023 to 2025. Medium- to long-term financial management plan for fiscal years 2023 to 2027
According to the report, net income is expected to be in the red this year at 392.9 billion won, 539.5 billion won in 2024, and 276.5 billion won in 2025. 5 years ago 2019-2023
In the fiscal year's financial forecast, debt was expected to be 14,134.1 billion won this year, but this has been readjusted to 20,763.4 billion won, an increase of 6,629.3 billion won.
Over the next five years, the corporation's interest will total 1.855 trillion won, with an annual average of 371 billion won. Approximately 1 billion won in interest will be generated in just one day.
Despite this deterioration in management, the railway union began a strike from 9 a.m. on the same day, demanding wage increases and changes to the work system. Yoo Kyung-joon of the ruling party ``People's Power'' (
Lawmaker Yoo Kyung-Hun said, ``Despite the reality that even in a normal business environment, interest alone would generate 1 billion won per day, the railway union went on strike with unreasonable demands.The more difficult times are, the more labor and management cooperate.
Must be. The railway union should immediately call off the strike and return to work to minimize the inconvenience to the public."