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 build the tunnel, but financing was through a separate legal entity, Eurotunnel. Eurotunnel absorbed CTG/F-M and signed a construction contract with TML, but the British and French governments controlled final engineering and safety decisions, now in the hands of the Channel Tunnel Safety Authority. The British and French governments gave Eurotunnel a 55-year operating concession (from 1987; extended by 10 years to 65 years in 1993) to repay loans and pay dividends. A Railway Usage Agreement was signed between Eurotunnel, British Rail and SNCF guaranteeing future revenue in exchange for the railways obtaining half of the tunnel's capacity. Private funding