SR Corporation

SR Corporation (Korean: 에스알, formerly Suseo High Speed Rail Corporation),[2][3] also known as Supreme Railways,[4] is a South Korean rail operator that operates high-speed rail services. As of January 2021, the company's services called at 17 stations, three of which it managed directly.[5]

SR Corporation
FormerlySuseo High Speed Rail Corporation
IndustryRail transport
FoundedDecember 27, 2013 (2013-12-27)
HeadquartersSuseo Hyosung Building, Gangnam-gu, Seoul
ServicesSuper Rapid Train (SRT)
Owners
Websitesrail.co.kr

History

The organisation was originally established as the Suseo High Speed Rail Corporation (수서고속철도주식회사, 水西高速鐵道株式會社) in December 2013.[6] During June 2014, it was announced that the company name would be changed to SR Corporation; one month later, it joined the Korea Railway Association.

In December 2016, SR Corporation officially launched SRT(Super Rapid Train) services, initially running between Suseo–Busan on a newly-opened high speed line.[7][8] Being an open-access operator, it is charged more for track access than the national incumbent Korail's KTX services; SR Corporation has claimed that its presence has increased competition, driving down ticket prices and raising service quality overall, while also contributing to repay the accumulated debts from the construction of Korea’s high-speed network.[9]

During February 2019, it was categorized as a Public Enterprise(준시장형 공공기관). In December 2022, a planned merger between SR Corporation and Korail, a move that the latter has openly advocated for, was abandoned.[9] During January 2023, Lee Jong-guk, SR’s newly appointed CEO, announced that the company would be pursuing greater independence from its majority shareholder, Korail; furthermore, that a comprehensive review of all existing contracts would be conducted. Specific areas of independence include a planned expansion of internal maintenance of rolling stock, including component production.[10]

Services
Main article: Super Rapid Train

The Super Rapid Train (SRT) is a high-speed rail service operated by SR.[7] By January 2021, the service consisted of two routes, Suseo–Busan and Suseo–Mokpo.[11] The ticket price is around 10% lower than KTX on average.[12] The SRT(Super Rapid Train) runs the Seoul-Busan route eight minutes faster than KTX.

References
  1. "Shareholders". SR Corporation. Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  2. "SR 연혁". SR Corporation (in Korean). Archived from the original on 26 September 2020. Retrieved 20 January 2021.
  3. Jeong-hwan, Lim (2 July 2020). "[단독]수서고속철도→에스알→?…SR 6년만에 이름 바꾸나". Newdaily (in Korean). Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  4. Briginshaw, David (1 June 2018). "Supreme Railways fights for survival". International Rail Journal. Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  5. "Exclusive Stations". SR Corporation. Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  6. "SR연혁". www.srail.or.kr (in Korean). Retrieved 17 January 2022.
  7. Tebay, Andy (9 December 2016). "Korea opens Suseo high-speed line". International Rail Journal. Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  8. 윤보람 (20 November 2016). "수서고속철 내달 9일 개통…117년만에 철도경쟁시대 열린다". 연합뉴스 (in Korean). Retrieved 17 January 2022.
  9. Tebay, Andy (23 December 2022). "Supreme Rail merger with Korail postponed". International Rail Journal.
  10. Tebay, Andy (9 January 2023). "Supreme Rail pushes for more independence from Korail". International Rail Journal.
  11. Byung-kyu, Sun (21 September 2016). "[철도의날 특집] 수도권고속철도 운영기업 (주)SR". Kukto Ilbo (in Korean). Archived from the original on 20 January 2021. Retrieved 20 January 2021.
  12. 윤보람 (20 November 2016). "수서고속철 내달 9일 개통…117년만에 철도경쟁시대 열린다". 연합뉴스 (in Korean). Retrieved 17 January 2022.


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