Hankyung write that double-track train project from Bujeon-dong, Busan to Masan, Changwon-si, Gyeongsangnam-do, is in risk of wiped out. This is because, as the handling of the collapse of the main tunnel (Nakdong 1 tunnel) under construction was prolonged, the major jurisdiction (financial institution), which lent money to the business operator, Smart Rail, began to recover the loan. This is because  reinsurance company, Munich RE, refused to extend the construction insurance Experts says it is unusual for a one year delay in the investigation of the cause of the tunnel collapse accident.

For under construction Nakdong 1 tunnel collapse, the Korean Tunneling Environment Association say Korean Geotechnical Society report point to possibility of construction errors. Lee Chan-woo, vice chairman of the Korean Tunneling Environment Association, said, “The groundwater runoff management standard was set too loosely without considering the ground conditions during the design.”The Ministry of Land, Infrastructure and Transport will do further investigations to determine the cause write Hankyung.

https://www.hankyung.com/realestate/article/202103097121i