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 the Exchequer of the day, William Ewart Gladstone. Around 1866, William Low and Sir John Hawkshaw promoted ideas, but apart from preliminary geological studies none were implemented. An official Anglo-French protocol was established in 1876 for a cross-Channel railway tunnel. In 1881, the British railway entrepreneur Sir Edward Watkin and Alexandre Lavalley, a French Suez Canal contractor, were in the Anglo-French Submarine Railway Company that conducted exploratory work on both sides of the Channel. On the English side a diameter Beaumont-English boring machine dug a pilot tunnel from Shakespeare Cliff. On the French side, a similar machine dug from Sangatte.