Abstract
This research proves that sizable transport investment for lagging regions is reasonable, and smaller investments, such as bus route arrangements, are better for prosperous regions, given house prices or income levels. This study’s essential takeaways are as follows. First, facilitating walking accessibility to bus stations in ten minutes is preferable to economically developed regions. Second, sizable transport investments, increasing fifteen minutes of accessibility to infrastructure by public transport modes, are better for the lagging regions. Third, most industries do not have positive synergies with the two accessibilities above in developing the nationwide economy, so there might be a limit for transport investment to continue getting benefits on a long-term basis. Fourth, the incumbent test measuring the feasibility of transport investment needs to accept the secondary quantitative benefits preferable to lagging regions. Fifth, the construction industry extracted synergies with the 15-minute accessibility through public transport to most infrastructures in lagging regions. Sixth, enterprises of an industry locate themselves too densely; for example, education and interactive access to buses do not supply the power to develop the regions (e.g., Seoul) well. Seventh, this study quantifies the interactions above as the actual currencies for objective and easy comparisons. Finally, this research’s policy recommendations work for international cases harmed by regional disparity since Korea has achieved economic development in a relatively short term while producing severe economic regional disparity due to the uniform transport investment principle.