Though it is still very early days, on the 31st of December 2011, 5 billion won of the government’s budget was set aside to speed up the planning process and help construction get underway as soon as possible. The total length of the line will be 174.2km and will pass through the Yanggu(양구) and Inje(인제) areas before arriving at Sokcho.
81.4km of the line was already finished in 2010 when the the Gyeongchun line from Seoul to Chuncheon opened. The remaining 92.8km to Sokcho will be built by Dongseo High-speed Rail Construction (Rough translation of 동서고속화철도 건설). Building the high-speed line is expected to take approximately 7 years and have a total cost of over 3 trillion won (3조 2,634억원). Once complete, the line is expected to improve the economy and tourism of other surrounding areas including Yangyang and Goseong, plus alleviate the amount of cars on the road during the peak summer season. Additionally it will most likely provide a vital link for cargo from ships which dock at the coastal city. I will update this post with any minor updates as more information comes in.
Source : FRDB | Ian Han’s Transport Reviews
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Has there been any news about this project? There have been some new banners put up along some of the streets of Sokcho. The banners don't announce anything new; just announcing the construction, the 5 billion won and the route. but maybe there have been new developments?