During the following years, several feasibility studies were prepared for a high-speed line with a Seoul–Busan travel time of 1 hour 30 minutes, which gave positive results. In 1989, following the go-ahead for the project, the institutions to manage its preparation were established: the Gyeongbu High Speed Electric Railway & New International Airport Committee, and the High Speed Electric Railway Planning Department (later renamed HSR Project Planning Board). In 1990, the planned Seoul–Busan travel time was 1 hour 51 minutes, the project was to be completed by August 1998, and costs were estimated at 5.85 trillion South Korean won in 1988 prices, 4.6 trillion of which were to be spent on infrastructure, the remainder on rolling stock.