Japan–Korea Undersea Tunnel at about ₩100 trillion (approx. US$90 billion), which would produce an extremely low benefit-to-cost result. In 2014, the South Korean Busan Development Institute estimated the undersea tunnel could create ₩54 trillion won (원54T, or US$53 billion) in economic benefits and provide about 45,000 jobs. In an April 2009 editorial, former Justice Ministers Daizō Nozawa of Japan and Kim Ki Chun of South Korea remarked on some of the similarities of the proposed Japan–Korea tunnel to the world's present longest undersea tunnel. The Channel Tunnel runs for 50.45 km linking the United Kingdom and France, and opened in May 1994: At
Channel Tunnel forecasts were over-predictions. Although the captured share of Channel crossings was forecast correctly, high competition (especially from budget airlines which expanded rapidly in the 1990s and 2000s) and reduced tariffs led to low revenue. Overall cross-Channel traffic was overestimated. With the EU's liberalisation of international rail services, the tunnel and High Speed 1 have been open to competition since 2010. There have been a number of operators interested in running trains through the tunnel and along High Speed 1 to London. In June 2013, after several years, DB obtained a licence to operate Frankfurt – London trains, not expected to