Total cost of breaking South Korean ferry contract exceeds $600 million

Friday 15 August 2025 · 2 outlets · 3 reports · updated Fri 15 Aug 2025, 12:01pm

In this story KiwiRail

KiwiRail has reached a final settlement with Hyundai Mipo Dockyard to exit the cancelled iReX ferry project. The latest $144 million payment brings the total cost of breaking the contract to more than $600 million.

How they headlined it

11:48am

1. RNZFri 15 Aug 2025, 11:48am

   Final cost of breaking South Korean ferry contract revealed (opens in new tab)

2. 1NewsFri 15 Aug 2025, 12:01pm

   How much it cost to cancel iRex ferry contract (opens in new tab)

   • How much it cost to cancel iRex ferry contract: $671 million (opens in new tab) Fri 15 Aug 2025, 12:01pm