끝나지 않은 철도 구조개혁 -상하분리를 중심으로 한 평가와 향후 정책방향- = A Study of Railway Reform Focused on the Effect of Vertical Separation and Future Policy Direction

다국어 초록 (Multilingual Abstract)

Currently big debate is reopened about the way of management for Suseo-departing KTX due to start in 2015, arguing that whether it should be contracted-out to private operator to achieve more efficiency or it should be run by KORAIL after re-integrating infrastructure and operation. The heart of this conflict is related with effectiveness of vertical separation and thus specific question; do we need to complete railway reform by accomplishing vertical separation through introducing real competition or not? Vertical separation policy has been adopted by many European countries as a part of railway reform package to allow new entrance and competition to the operation sector separated from infrastructure sector which tends to be natural monopoly with enormous sunk cost. Following this, Korean government also separated former National Railroad Administration into KORAIL and KR in 2004. Until recently, however, neither there have been theoretic discussions nor empirical analyses to identify possible effectiveness of vertical separation. This study tackled the issue and revealed that Korean rail sector enjoys high level of efficiency both before and after separation through Data Envelopment Analysis and international comparison. This conclusion proves against the notion that vertical separation should be re-integrated due to inefficiency of separation policy, but does not support either the notion that higher efficiency could be achieved through perfect separation. However, as higher level of efficiency came from monopoly system and is not related with higher level of service, it gives limited policy implication that reasonable way of introducing more competition should be reviewed further, which was original objective of vertical separation.

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