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Old September 16th, 2010, 07:00 PM   #161
ruready1000
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Samsung C&T Abandons Right to Urban Development Project
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Samsung C&T gave up its right to South Korea’s multi-billion dollar urban project to develop an area by the Han River into an international business hub.

The constructor and trader said on August 31 it decided to return its business right to the Yongsan international business zone development project by accepting the demand from KORAIL and Lotte Tours, the two largest shareholders of the project run by a consortium called Dreamhub. Samsung C&T had participated in Asset Management Company for Dreamhub, where it owned a 45.1% stake worth 1.35 billion won ($1.12 million) when transferred. AMC was capitalized at three billion won and KORAIL holds a 29.9% and Lotte a 25% stake.

Samsung C&T gave up the stake and it will let its three directors, half of the AMC board, step down at the same time.

The company, however, said it will maintain a 6.4% stake in a special purpose company, a group of investors for the project. Samsung C&T and other Samsung affiliates including Samsung Life Insurance(3%) and Samsung SDS(3%) own a combined 12% stake or more in Dreamhub capitalized at one trillion won.

Some inside the company raised a voice that it should sell off all stakes in Dreamhub but the company decided to maintain the share as it already acquired construction orders worth 540 billion won and it would face a negative public opinion when if it leave the project completely.

After Samsung C&T, the project will be led by KORAIL, the largest shareholder and owner of the land, which will look for a constructor as a new investor.

source
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Old September 16th, 2010, 07:01 PM   #162
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KORAIL sees new hope after Samsung’s exit

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Railroad firm to start wooing new investors but outlook not bright due to murky real estate market

State-run railroad operator KORAIL is fervently hoping for the embattled Yongsan development project to take off in earnest now that it has resumed control.

“We are pleased to be taking this from the top, and hopefully, we will be able to recruit investors who are more willing to invest in this project,” said Won Hyung-min of KORAIL’s public relations team.

The company plans to start recruiting new investors from the construction sector as early as next week. An announcement for the recruitment criteria is to be issued on Sept.13, company officials said.

For KORAIL, its future rests on the multi-billion project as the profit is to help pay off its massive debt.

The essential factor, therefore, will be how large a guarantee the potential investors are willing to offer for the additional loans necessary to start building the Yongsan international business district.

“With Samsung out of the picture, we believe other investors will come knocking on our doors,” KORAIL officials said.

They declined to elaborate, but Samsung officials said they heard that KORAIL was already in contact with interested investors.

Samsung C&T Corp., after being at loggerheads with KORAIL over funding problems, recently pulled out of an asset management company that was overseeing the funding for the Yongsan project.

The project itself is being operated by DREAMHUB, a paper company formed of investment from around 30 investors including Samsung.

KORAIL holds a 25 percent stake, while Samsung holds a relatively small share of 6.4 percent. The conglomerate, however, had significant sway over investors as the manager of the group.

Samsung’s refusal to vouch for additional bank loans needed to finance the first initial years was what held back other consortium partners from investing in the project, according to KORAIL.

For this reason, KORAIL had been calling for the conglomerate to step out of the asset management company.

Investors in the Yongsan project have long been plagued by funding problems as the local real estate market began to bottom out amid a global economic recession.

Property value has fallen considerably to arouse anxiety among the investors and also KORAIL who owns the land that the new Yongsan business district will be built on.

In total, the project was estimated to cost over 30 trillion won ($24.9 billion), which initially seemed a reasonable price considering the future profit.

But the situation today is that investors are having trouble--either because they can’t or won’t -- raising even the initial funding.

KORAIL has estimated that the project will require some 8 trillion won up until 2012 before the buildings start going up to be rented out and raise profit.

Most of the amount has been secured by capital increases and loans, with the exception of some 950 billion won.

“We are not going to take this risk when we believe it unlikely for the project to reap enough profit to cover losses,” said one Samsung official.

Less profit means that Samsung or any other investor who provides credit guarantees to the banks, will have to fork over extra funds.

Samsung is now saying it will settle for the 500 billion won worth of construction rights it has attained in with its 6.4-percent stake in DREAMHUB.

KORAIL claims that it made enough sacrifices for the Yongsan project.

It recently said it would buy a 4 trillion-won landmark in the development area to help the investors secure funds.

Before the latest property market downturn, plans for creating a Yongsan business hub had many envisioning yet another lucrative real estate project.

Plans kicked off in 2006 to transform a 566,800-square meter area into a top-notch business town, complete with a landmark skyscraper, two six-star luxury hotels and 12 office towers by 2016.

The multi-billion dollar project was expected to create 360,000 new jobs and 67 trillion won in economic benefits.

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Old September 25th, 2010, 07:04 PM   #163
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KTX, KTX-Sancheon, HEMU-400X | Video Clip from TV Program
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Old October 8th, 2010, 06:30 PM   #164
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South Korea To Begin Full-fledged Bullet Train Service Between Seoul, Busan

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SEOUL, Oct 7 (Bernama) -- South Korea will begin its full-fledged bullet train operations between its two largest cities starting in November. Yonhap news agency reported.

The Ministry of Land, Transport and Maritime Affairs said once the new Korea Train Express (KTX) railway line is open, it will take 2 hours and 18 minutes for people to move from Seoul to Busan, the country's biggest seaport, a reduction of 22 minutes from the present travel time.

The KTX trains that began ferrying passengers in April 2004 currently use a dedicated railroad from Seoul to East Daegu station, about 302 kilometers southeast of the capital city, but the trains have to switch to conventional railroad tracks in the last 82km leg to Busan.

Conventional tracks make it impossible for the trains to reach their top speed of over 300km per hour and slow down overall travel time.

"The new high-speed railroad line takes a 130.7km-long circuitous route between East Daegu and Busan, and since the train can move much faster, it takes less time," the ministry said.

Two new KTX train stations will be opened at the industrial city of Ulsan and Gyeongju, a popular tourist destination.

The ministry also said the frequency of train operations in the Seoul-Busan route will be increased from 72 to 85 during weekdays and to 111 during the weekend from 90 at present.

The increase is expected to get more people to use the KTX.

Up to 139,000 people are expected to ride the KTX on average starting next month, up 32 percent from 106,000 that use the service on a daily basis now.

The ministry added that the fare for using the KTX between Seoul and Busan will rise 4,300 won (US$3.8) to 55,500 won (US$49.6) during weekends and public holidays and go up by 3,900 won (US$3.4) to 51,800 won (US$46.3) on weekdays.

The start of high-speed train services linking Seoul and Busan is part of a broader government plan announced on Sept 1 that aims to expand the country's bullet train network to accelerate cross-country transportation and promote balanced regional growth.

Under the blueprint, all major South Korean cities will be connected by the KTX network by 2020, making it possible for people to travel from one place in the country to another within two hours.

source

Time Schedule of KTX Gyeongbu Line on Major Cities ( from November )
Code:
Train							
No.	Seoul		Daejeon		Dongdaegu	Busan
101	05:30		06:30		07:21		08:09
201	05:45		06:42		07:31		08:41
103	06:00		07:02		07:50		08:33
105	06:30		07:27		08:18		09:02
351	06:40		07:45		08:31		
107	07:00		07:57		08:48		09:33
109	07:10		08:15		09:03		09:47
111	07:30		08:28		09:16		10:01
301	07:40		08:37		09:29		10:39
221			08:47		09:35		10:13
113	08:00		09:00		09:48		10:33
271	08:10		09:07		09:53		
601	08:20		09:59		10:52		11:37
115	08:30		09:27		10:18		11:03
353	08:40		09:38		10:24		
117	08:50		09:47		10:35		11:13
119	09:00		09:52		10:40		11:28
273	09:10		10:12		10:59		
121	09:30		10:22		11:10		11:48
303	09:40		10:42		11:30		12:40
203	09:55		10:47		11:35		12:19
123	10:00		11:02		11:50		12:34
251	10:10		11:08		11:59		13:09
603			11:55		12:43		13:28
125	10:30		11:28		12:16		12:59
355	10:40		11:37		12:27		
205	10:50		11:48		12:36		13:14
127	11:00		12:02		12:50		13:34
129	12:00		12:58		13:50		14:35
223			13:11		13:59		14:44
131	12:30		13:27		14:15		14:59
305	12:40		13:36		14:29		15:39
207	12:55		13:47		14:35		15:20
133	13:00		13:57		14:45		15:30
275	13:10		14:08		14:58		
225			14:16		15:05		15:50
135	13:30		14:28		15:16		16:00
357	13:40		14:42		15:29		
209	13:55		14:47		15:35		16:19
137	14:00		14:56		15:48		16:33
253	14:10		15:12		16:00		17:10
139	14:30		15:28		16:16		16:59
307	14:40		15:37		16:26		17:36
211	14:55		15:47		16:36		17:20
141	15:00		16:02		16:50		17:34
277	15:10		16:07		16:57		
143	15:30		16:28		17:16		18:00
309	15:40		16:37		17:29		18:39
213	15:55		16:53		17:41		18:19
145	16:00		17:02		17:50		18:35
279	16:10		17:09		17:56		
147	16:30		17:27		18:18		19:02
359	16:40		17:37		18:24		
149	17:00		18:02		18:54		19:39
605			18:49		19:37		20:22
311	17:20		18:22		19:10		20:19
151	17:30		18:32		19:20		20:04
215	17:50		18:42		19:30		20:15
153	18:00		18:57		19:51		20:36
255	18:10		19:08		19:59		21:09
227			19:22		20:11		20:56
155	18:30		19:28		20:17		21:03
313	18:40		19:37		20:25		21:35
157	18:50		19:52		20:40		21:24
159	19:00		19:57		20:50		21:28
607	19:03		20:39		21:27		22:12
361	19:10		20:12		20:58		
161	19:30		20:27		21:15		22:04
217	19:50		20:47		21:35		22:19
163	20:00		20:58		21:51		22:36
315	20:20		21:17		22:05		23:15
165	20:30		21:22		22:10		22:48
363	20:50		21:47		22:38		
167	21:00		22:05		22:53		23:40
169	21:30		22:32		23:20		00:05
317	21:50		22:48		23:37		00:47
171	22:00		23:02		23:54		00:37
331	22:40		23:45				
173	23:00		23:57		00:45		01:30
333	23:30		00:35				

source : www.korail.com
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Old October 8th, 2010, 07:04 PM   #165
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Related News Clips




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Old October 8th, 2010, 11:54 PM   #166
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wow!
I've seen in the first video that it's really a very very long train!

how long is it exactly?
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Old October 9th, 2010, 06:41 AM   #167
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Quote:
Originally Posted by Luli Pop View Post
wow!
I've seen in the first video that it's really a very very long train!

how long is it exactly?
18 Carriages I believe. Annoyingly only 2 have unreserved seating.
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Old October 10th, 2010, 03:12 AM   #168
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Quote:
Originally Posted by ruready1000 View Post
What services can be payed on board with telephone and hostess PDA (tickets, food ...) ?
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Old October 10th, 2010, 04:54 AM   #169
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Quote:
Originally Posted by Gadiri View Post
What services can be payed on board with telephone and hostess PDA (tickets, food ...) ?
I believe the cellphone doubles as a credit card with its RFID over there. You can pay for a bus ride, a cab ride, a vending machine purchase, etc.
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Old October 10th, 2010, 04:24 PM   #170
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Quote:
Originally Posted by Luli Pop View Post
wow!
I've seen in the first video that it's really a very very long train!

how long is it exactly?
KTX Trainset = 2L2M16C = 388m
(L=22,517 mm M=21,845 mm C=18,700 mm)

Quote:
Originally Posted by Gadiri View Post
What services can be payed on board with telephone and hostess PDA (tickets, food ...) ?
PDA has 'Seating Information' and 'Ticket Sale' function. Crews, using PDA, check free riders and sell ticket to passengers on board when passengers ask.

Passengers can purchase ticket from :

- ticket booth
- ticket vending machine
- internet
- mobile phone : if you install mobile phone program on your phone(3G), you can purchase ticket by mobile phone. In this case your ticket is saved on your phone. you can simply check schedule or fare via mobile korail site 'm.korail.com' if your phone has web-browsing fuction, but can't purchase ticket.) And you can use vending machine on KTX if your phone or credit card has transportation card function.
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Old October 10th, 2010, 04:36 PM   #171
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KTX Trial On 2nd Phase Section


SinGyeongJu Station










Ulsan Station






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Old October 10th, 2010, 04:43 PM   #172
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SinGyeongJu Station | It will open on November. 1.











Ulsan Station | It will open on November. 1.










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Last edited by ruready1000; October 12th, 2010 at 05:48 PM.
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Old October 12th, 2010, 11:23 AM   #173
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CDC(Commuter Diesel Car) Train On Gyeongwon Line


CDC(Commuter Diesel Car) Cabin Room


Arriving at Jeongok Station








Arriving at Yeoncheon Station


Water Tower for Steam Locomotive in Yeoncheon Station(Registered Cultural Properties)


CDC Train Cabin Room

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Old October 12th, 2010, 11:47 AM   #174
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Gyeongchun Line Pictures Taken From Cabin Room


The train for Cheongpyeong is ready for departure on Cheongnyangni station


Waiting for signal


The train is entering Seongbuk station


The train is running on old track(This track will be no use when new track is ready)


Newly-built track


Old and newly-built track


The train is running on newly-built track


Pyeongnae-Hopyeong station(not yet opened)




The train is waiting on Daeseongni station to let the opposite train pass


Cheongpyeong station

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Old October 12th, 2010, 11:52 AM   #175
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Yongsan Station | 용산역 | in Seoul















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Old October 12th, 2010, 11:55 AM   #176
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Several Random Trains

















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Old October 12th, 2010, 04:24 PM   #177
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Quote:
Originally Posted by ruready1000 View Post

Pyeongnae-Hopyeong station(not yet opened)
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Does anyone have any idea when this station becomes part of the metro? They keep delaying it and as you can tell by my location, I would find it very useful
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Old October 12th, 2010, 05:45 PM   #178
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Quote:
Originally Posted by Stainless View Post
Does anyone have any idea when this station becomes part of the metro? They keep delaying it and as you can tell by my location, I would find it very useful
According to this article(korean), Gyeongchun Line(Metro) will start its operation on December. 21, so your station will be ready soon finally.
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Old October 15th, 2010, 07:22 PM   #179
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Haerang | Rail Cruise

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Haerang is a train that’s part hotel, part observatory, part entertainment facility, and 100% fun. On the outside, the train is a striking blue with a gold phoenix emblem; on the inside, it’s full of clean and modern accommodations and conveniences, ensuring visitors a safe and pleasant travel experience.

The luxury train takes passengers to major tourist destinations in Korea's southwest, southeast, and eastern regions, including Gokseong, Suncheon, Tongyeong, Gyeongju, and Jeongdongjin as part of a one-night, two-day or two-night, three-day program. Train fare is inclusive of all services and travel fees (not including your souvenirs!). Travelers move from one destination to another by train or by bus and visit famous local restaurants to feast on regional specialties like hanjeongsik, raw fish, and hanu beef. Deluxe lunchboxes are provided when the travel schedule does not allow time for a more elaborate meal (only once or twice during the trip).

Haerang's guest rooms range from standard rooms and family rooms to deluxe rooms and suites. All passenger rooms are equipped with a bed, an individual bathroom, a TV and air conditioning, allowing for a relaxing and comforting stay. Beds are soft, but firm, reducing the rocking motion of the train. For the privacy and security of guests, each room can only be accessed by individualized keycards.

Traveling by train is a unique travel option that lets passengers fully appreciate the surrounding countryside. Take a look out your room window or head over to the passenger car at the middle of the train for a wide open view of the passing scenery. The observatory car is especially popular because of the shows and recreational programs offered throughout the day and in the evening.

Feeling peckish? Stop by the café next to the observatory car for a variety of snacks and beverages, served with a smile; muffins and cookies, as well as coffee, milk, and juice are available 24/7. In short, Haerang has it all: comfort rooms, hospitable staff, various entertainment programs, open viewing space, and delicious meals. Take a ride on Haerang railway for a luxurious but intimate tour of some of Korea’s most beautiful travel destinations.

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Old October 15th, 2010, 07:24 PM   #180
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Haerang

















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