Seoul's Ministry of Land, Transport and Maritime Affairs, citing a study by the state-run Korea Transport Institute (KTI), said submarine tunnels proposed between South Korea and Japan and between South Korea and China have been ruled economically infeasible.
KTI has conducted a feasibility study into a project to link China's Weihai with four locations on the Korean Peninsula's western coast, including Incheon, as well as into a project to connect South Korea's Busan with Japan's Fukuoka via Tsushima Island.
Ministry officials said the benefit-cost ratio for the envisioned undersea tunnel projects turned out to be extremely low, due to their construction costs estimated to reach about 100 trillion won (US$90 billion).
"The government's think tank has conducted a feasibility study (on the undersea tunnel projects) at the request of provincial governments. But they have been ruled economically infeasible," said a ministry official.
This file photo shows a symposium on an undersea tunnel between South Korea and China held in Seoul in 2008. (Yonhap)