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 defence arguments had become less relevant due to the dominance of air power, and both the British and French governments supported technical and geological surveys. In 1958 the 1881 workings were cleared in preparation for a £100,000 geological survey by the Channel Tunnel Study Group. 30% of the funding came from the Channel Tunnel Co Ltd, the largest shareholder of which was the British Transport Commission, as successor to the South Eastern Railway. A detailed geological survey was carried out in 1964–65. Although the two countries agreed to build a tunnel in 1964, the phase 1 initial studies and signing