• Journal of Korean Society of Transportation
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• v.32 no.4
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• pp.336-346
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• 2014

Recently interest and concern about the effectiveness of the transportation investment policy have been increasing because lots of transportation projects reflected to the National Transportation Plan are suspended or delayed during pre-feasibility study. For instance, the criticism such as overlap and deficiency in consistency in appraisal system were aroused because of the waste of budget, time and man-power etc. This is because the Korea government adopted pre-feasibility study for the purpose of efficient use of national budget, but the methodology and the appraisal contents are similar to the existing feasibility study. Also, the feasibility appraisal study was adopted in 1999 for the purpose of establishing efficient transport networks but the feasibility study has been substituting the function which should be conducted by feasibility-appraisal study. In this study, by reviewing the current situation and the purport of introducing these policies, the understanding of these policies could be increased. Then, the plans for improving the efficiency of transportation appraisal system are suggested in the context of strengthening the connectivity between these policies. This study is expected to play an important role in increasing the rationality, consistency and efficiency of transportation investment policies.