The South Korean government said Tuesday that its spending on railway construction this year will grow 46 percent from a year earlier, with more than two thirds of the budget to be injected in the first half, according to Yonhap News.
The Ministry of Land, Transport and Maritime Affairs said that it will invest around 2.27 trillion won ($1.66 billion) in constructing or extending railways across the nation this year. Of the total, 1.59 trillion won will be spent in the first half, the ministry added.
The increased investment and its frontloading are in line with the government drive to bolster domestic demand and reinvigorate the slumping economy through expanded fiscal spending.