KTX was introduced on 1 April 2004. In the first 100 days, daily passenger numbers averaged 70,250, generating an operational revenue of about 2.11 billion won per day, 54% of what was expected. On January 14, 2005, Prime Minister Lee Hae Chan stated that "the launch of KTX was a classic policy failure" due to construction costs significantly above and passenger numbers well below forecasts. However, ridership increased by over a third on the Gyeongbu KTX and over a half on the Honam KTX in two years. Daily operating profit rose to 2.8 billion won by December 2005, when financial break-even was forecast at a ridership level of around 100,000 passengers a day, which was expected by the end of 2006.