[Seoul] 'Bankruptcy Crisis' Wu Yi Sinseolseon Normalizes After 3 Years of Restructuring

Seoul's No. 1 light rail line, the Ui New Line, which was on the verge of bankruptcy, has entered the normalization stage.

The Seoul Metropolitan Government announced on the 12th that the "Proposal and Implementation Agreement for the Designation of New Project Implementers of Ui-New Line" was passed at the deliberation of the Ministry of Strategy and Finance's Private Investment Project Deliberation Committee.

As a result, the new Ui-Seon line will be operated by the new operator until 2047, which will raise 280.5 billion won in investment and the Seoul Metropolitan Government will provide financial support through minimum cost preservation.

explained that the city reduced the management and operation expenses paid by the city from 21.8 billion won to 20.1 billion won per year, reducing financial support by 51.7 billion won during the operator's operation period.