Over the last two decades, Korea's economy has experienced fundamental changes that in turn have deeply affected the transport sector. It is in this context that this Transport Sector Issues Survey has been carried out. Its main objectives were to assess the past achievements in the sector and to evaluate the developmental needs that lie ahead. From this analysis of current strengths and weaknesses, the survey defines the issues areas where the Bank could provide Korea with meaningful support in strengthening its institutions and developing its policies. Since the Bank has a fairly good knowledge of Korea's transport sector from previous studies, this report does not present a comprehensive review of the sector, but rather focuses on a few important issues. They concern investment planning, the regulatory system, and the energy efficiency of the sector.