The operational management of Taiwan's national railway network was transferred from the Taiwan Railways Administration (TRA) to the newly established Taiwan Railway Corporation (TRC) on 1st January 2024 in order to improve rail safety. The transformation of TRA into a state-owned company is intended to improve the safety of both passengers and employees. This change follows fatal train accidents in 2018 and 2021. TRA's long-term debt of €5.0 billion (TWD 170 billion) will be transferred to a new fund set up by the Ministry of Transport and Communications (MOTC). It is expected that TRC's cash flow will be positive by 2026 and the company will make a profit in 2028. However, fares will have to increase as they have not been revised for over 20 years. The TRC plans to consult on future fares later in 2024.
