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A driverless elevated light rail line opened in September 2011
Permanent project revision
Revision 2026-10-11-deep-run · effective 2026-10-11
Current revision. This is the snapshot used by the live entity page.
Deep Run 2026-10-11: every source re-read and dated, present-tense statements dated, claim array completed; snippet: Ridership peaked at 51,654 a day in 2017 and has not regained it, so 'recovered' overstates; the only 2025 figure is January-May (45,689), not ~45,800.; snippet: None of the sources read names the contract type BTO; they describe a private investment project with a minimum revenue guarantee. Same change in `funding` and `operator`.; lesson: The forecast came from the Korea Transport Institute, a state research body, not a consultant; 'the fourteen years already committed' has no source and no clear referent (payments run 2011-2041 under the revised agreement).; story: 30,084 is the av
sha256:77a72281e652a8a38c42686259161c68ae3caed424d2fe0205fe824b7ded19f7
replace /snapshot/projectFingerprint — Updated projectFingerprint to the current sourced project record.replace /snapshot/asOf — Updated asOf to the current sourced project record.replace /snapshot/governance — Updated governance to the current sourced project record.replace /snapshot/claims — Updated claims to the current sourced project record.replace /snapshot/sources — Updated sources to the current sourced project record.The text below is copied verbatim from the published record. Each claim names the source dossiers that carry it; caveats stay attached to the claim they qualify.
clm-97a4ca33a43bbfd2
quantitative
A driverless elevated light rail line opened in September 2011
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over 23 km between Busan's Sasang district and Gimhae
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built as a private concession carrying a minimum revenue guarantee
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The Korea Transport Institute had forecast 176,358 riders a day at opening
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30,084 came
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Busan and Gimhae covered the shortfall, and a 2017 renegotiation swapped the revenue guarantee for cost compensation running to 2041
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The two cities paid 906.8 billion won between 2011 and 2025
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owe at least 1.09 trillion more
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Ridership has since partly recovered, from 34,752 a day in 2020 to 45,821 in 2024
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still below the 2017 peak of 51,654
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Busan and Gimhae paid 906.8 billion won in support payments over 2011-2025 (Gimhae 572.4bn, Busan 334.4bn)
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are contractually liable for at least 1.0898 trillion won more through 2041
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Daily ridership in 2024 was 45,821, or 14.9% of the 306,000 forecast for that year
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A 2020 refinancing, in which Busan City issued 150.8 billion won of asset-backed securities at 2.3%, was expected to save about 12.9 billion won through 2041
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As of September 2025 the national government gave no financial support toward the deficit: the Urban Railroad Act allows it only administrative support
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In September 2026 Gimhae's mayor asked the National Assembly for more national funding for the line in the 2027 budget
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A revenue guarantee written against a state institute's demand forecast
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hands the forecasting risk to the taxpayer for as long as the contract runs
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Renegotiating it in 2017 cut the projected bill by about 304 billion won
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left Busan and Gimhae paying until 2041
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fully automated, with no driver
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The line is 23.9 km long and has 21 stations
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It projected 176,358 riders a day in the opening year, rising to 322,545 by 2031
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Gimhae's support payment for 2020 alone was 48.6 billion won
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against ridership of 34,752 a day where the forecast had promised 272,220
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By 2024 the annual payment across both cities had reached 84.1 billion won
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Gimhae carries 63.19 percent of the cost and Busan 36.81 percent
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Busan and Gimhae paid 906.8 billion won in support payments over 2011-2025
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they are contractually liable for at least 1.0898 trillion won more through 2041
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The original minimum revenue guarantee ran from September 2011 to March 2017, when it was replaced by a cost-compensation arrangement running through 2041
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The renegotiation cut the projected remaining burden by roughly 304 billion won
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The trains are two-car sets built by Hyundai Rotem
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from 30,084 a day at opening to 45,821 in 2024
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Uijeongbu's light rail, which opened in 2012, carried well under half its projected ridership and costs its city on the order of 20 billion won a year
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in Yongin, a former mayor's liability in damages over the city's light rail was confirmed by the Supreme Court
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In its opening year the line averaged 30,084 riders a day
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descriptive
The two-car trains that shuttle between Sasang in western Busan and Gimhae
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on an elevated guideway
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It opened in September 2011
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For this line the forecast came from the Korea Transport Institute, the state's own transport research body
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Those numbers went into the contract, and the contract turned them into an obligation: whatever the fare box failed to deliver against them, the two cities would make up
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describes 176,000 a day as the system's design capacity
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It is the demand forecast, the number somebody expected to actually show up
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The line opens; 30,084 riders a day against a forecast of 176,358
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First year of support payments — of the order of one billion won
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The minimum revenue guarantee is replaced by a cost-compensation arrangement running to 2041
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Gimhae alone pays 48.6bn won
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ridership 34,752 against a forecast of 272,220
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Ridership 45,821 a day — 14.9% of the 306,000 forecast for the year
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Annual support payment of 84.1bn won
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Gimhae's accumulated light rail liability is national news
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It promised that a gap between forecast and fare box would be filled from the public purse
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the smaller city, with the smaller budget, holds the larger share
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split 572.4 billion from Gimhae and 334.4 billion from Busan
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By the middle of the decade the annual payments had grown past what either council could absorb quietly, and the cities went back to the table
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a revenue guarantee tops up income against a forecast, while cost compensation covers the operator's costs against what it actually earns
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The second is cheaper for the public side
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from something on the order of 1.8 trillion won down to about 1.49 trillion
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The forecast was produced by a state institute
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and is now paid for annually by both
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The bill arrives regardless, and will keep arriving until 2041
This layer records what is known about each source, what is still missing, and the exact snapshot this page is rendering. A missing date, archive or hash stays visible as missing.
Awaiting operator and domain-expert review; publication of this revision implies neither.
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src-c2af622a9a9f920cGyeongnam Domin Ilbo's 14-year review of the line: the Korea Transport Institute projected 176,358 riders/day at the 2011 opening, 211,147 by 2014 and 322,545 by 2031; average daily ridership at opening was 30,084; the 2017 peak was 51,654/day, ridership fell to the 34,000s in 2020 and stood at 45,932/day in 2024; 2024 support payments of 84.2bn won (Gimhae 53.0bn, Busan 31.2bn); cost-sharing of 63.19% (Gimhae) and 36.81% (Busan); the MRG ran from September 2011 to March 2017 and was replaced in April 2017 by 25-year cost compensation (MCC) to 2041, cutting the public burden from 1.7963tn to 1.4919tn won (by 304.4bn); and the national government gives no financial support toward the deficit, because the Urban Railroad Act allows it only administrative support.
clm-494cb151ae6c9eccclm-1bd15519d577a1afclm-c1127a9db97136d0clm-2c757be3ae3ed4e1clm-8a7b840026075bffclm-2336190b1422bd70clm-648776ffe266c78aclm-d5dc9c8a4a2bc1b2clm-d51adc16fbc0fbf3clm-d391f2ab0dd7bc97clm-47888f53eb33ce56clm-bc0955a3ff20e6f2clm-15075be2ed3db22aclm-83af553e662a002bclm-add94db52402c885clm-4c77d66352fcf7d5clm-e4edbf54fd595358clm-114936723863525cclm-ed46ab7279f21161clm-9850be95f0c0af23clm-1e0954609a68e491clm-623ffdad098617eaclm-7bc0e1dd090e2beasrc-ef495553f07849e9Busan city announcement of 5 April 2017: Busan, Gimhae and the transport ministry signed a revised agreement on the 24th of the previous month, in force since 1 April; the minimum revenue guarantee (MRG) is abolished and replaced by minimum cost compensation (MCC), which tops up actual operating revenue to an agreed cost level; the concessionaire, operating company and maintenance contractor are merged into direct operation by the concessionaire; the private return falls from 14.56% to 3.34%; the two cities expect to save about 300bn won (Busan 150bn) to 2041.
src-aed164cc97a8ee6cPre-election review of Gimhae, April 2026: the two cities paid 906.8bn won in light rail support over 2011-2025 (Gimhae 572.4bn, Busan 334.4bn) and must pay at least 1.0898tn won more from 2026 to 2041 (Gimhae 688.6bn, Busan 401.2bn); candidates of both main parties name national funding for the deficit as a priority, including a 17 March 2026 meeting with the transport minister.
src-1510a1616ac15422Kyunghyang Shinmun on Gimhae's request to the transport ministry: cumulative support since 2011 of 519.1bn won (Gimhae) and 302.8bn won (Busan); 2024 payments of 52.9bn and 31.2bn won; a forecast of 306,000 riders/day for 2024 against about 45,000 actual; a remaining obligation of 1.1705tn won from 2025 to 2041; and Gimhae's request that the 2027 national budget share the support payments. Gimhae has 12 of the line's stations, Busan 9.
src-c84463cc3335f411SBS (via Yonhap) on light rail demand forecasts: 45,821 riders/day in 2024, equal to 14.9% of the 306,000 forecast for that year, and 45,689/day over January-May 2025; 2024 support of 84.1bn won (Gimhae 52.9bn, Busan 31.2bn), split 63.19/36.81 because Gimhae has 12 stations and Busan 9; Gimhae's lawsuit for a 50:50 split was lost; most of the deficit is financing cost, already lowered by a 2020 refinancing; the Supreme Court confirmed a former Yongin mayor's liability in damages over that city's light rail; Uijeongbu's line, opened 2012, drew well under half its forecast ridership and costs that city about 20bn won a year.
src-4647d109f777759cBusan Ilbo at the line's tenth anniversary: opened 17 September 2011; 21 stations; 158 million cumulative riders in ten years; 34,752 riders/day in 2020 against a forecast of 272,220; Gimhae paid 48.6bn won in support that year and pays more than 40bn won every year, against a disposable budget of about 200bn won. Gives the length as 23.2 km, against 23.9 km on the operator's site.
src-a0159a68aed0f6c5Official site of the concessionaire that has run the line directly since the 2017 restructuring; its 2026 notices (a May 2026 disaster drill, the 15th-anniversary programme in September 2026) show the line in normal operation.
src-0a5ad2fb460befb7Technical description: 23.9 km, 21 stations, standard gauge, 750 V DC third rail, Thales SelTrac CBTC signalling, fully automated operation, 2-car trains built by Rotem (Hyundai Motor Group); opened 9 September 2011 with a week of free service, revenue service from 17 September. It presents 176,000 riders/day as design capacity; the Korean sources above show it is the opening-year demand forecast.
src-7c954c6a96ebb9e1Operator's description of the train control: a fully automated, driverless system based on RF-CBTC, supervised from a central control room over the 23.9 km between Busan and Gimhae, with full-height platform screen doors.
src-cf3143d9cf35e81fOperator's rolling-stock page: steel-wheel, DC-powered driverless vehicles running as two-car sets (Mca-Mcb), 750 V DC third rail.
src-8aa04093ee2529f2Pre-opening report: the two cities and the concessionaire set expected ridership at 176,000 a day in the contract and agreed that the cities would cover the deficit for 30 years if ridership fell below it; Gimhae now expected about 100,000.
src-9f66a05d0901351aBusan city figures reported in January 2014: average daily ridership of 38,112 in 2013, up 26.7% on 30,084 in 2011, the first year of operation; the city then expected about 80,000 a day by 2020.
src-077937569fb143a3Asia Economy (English edition): Busan City refinanced part of the line's debt in 2020 by issuing 150.8bn won of asset-backed securities at 2.3%, guaranteed by the Korea Credit Guarantee Fund, expected to save about 12.9bn won over the operating period to 2041; it puts the saving from the 2017 MRG-to-MCC conversion at 304bn won.
src-27e33bb44e96f2e0Gimhae's mayor Jeong Yeong-du visited the National Assembly on 15 September 2026 to ask for higher national funding in the 2027 budget; the Busan-Gimhae light rail private-investment project heads the list of projects named. No amount is given.