'First Groundbreaking in 14 Years' Incheon Yeongjong-Cheongna 3rd Interconnection Bridge... Completion in 2025

4.67km Length, 6-Lane Round Trip... Installation of Sidewalk, Bicycle Path, and Observatory
Total Project Cost 650 Billion KRW... LH 80%, Incheon Urban Corporation 15% Contribution
Expected Improvement of Living Conditions in Yeongjongdo and Promotion of Development in the Western Seoul Metropolitan Area

Perspective view of Incheon Third Bridge [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The 'Third Yeonryuk Bridge,' connecting Yeongjongdo Island and Cheongna International City in Incheon, has broken ground after 14 years of project promotion. The Third Yeonryuk Bridge is the third sea bridge connecting Yeongjongdo, where Incheon International Airport is located, to the mainland, following Yeongjong Bridge and Incheon Bridge.

The Incheon Free Economic Zone Authority held a groundbreaking ceremony on the 22nd at the terminal point of the Third Yeonryuk Bridge in Cheongna-dong, Seo-gu, Incheon, attended by Prime Minister Chung Sye-kyun, Incheon Mayor Park Nam-chun, Incheon Free Economic Zone Authority Chief Lee Won-jae, and local lawmakers.

This comes 14 years after securing 500 billion KRW in 2006 by reflecting the project cost of the Third Yeonryuk Bridge in the land development cost of Yeongjong and Cheongna International Cities in Incheon.

In his commemorative speech, Prime Minister Chung said, "Congratulations on the groundbreaking of the Third Yeonryuk Bridge, a long-cherished project for 3 million Incheon citizens," adding, "Once completed, the Third Yeonryuk Bridge, one of President Moon Jae-in's 'Top 10 Promises for Incheon,' will improve surrounding transportation and living infrastructure, activate development and investment attraction, and revitalize the airport economic zone. It will also elevate Incheon's status as a Northeast Asian hub city, leading to a leap forward for South Korea."

Mayor Park stated, "The Third Yeonryuk Bridge is a key anchor facility connecting the Incheon Free Economic Zone, including Songdo, Yeongjong, and Cheongna International Cities, and linking a massive financial and commercial cluster from Yeongjong to Cheongna, to Lu-Won City, and Yeouido," adding, "We will carefully oversee the construction until the bridge opens."

The Third Yeonryuk Bridge, connecting Jung-san-dong in Jung-gu and Cheongna-dong in Seo-gu, Incheon, will be 4.67 km long with six lanes (three lanes each way) and is scheduled for completion in 2025.

Among the three bridges connecting Yeongjongdo, it is the only one equipped with pedestrian walkways, bicycle paths, and observatories, making it a cultural space for experiential tourism where visitors can enjoy romance over the sea.

The Third Yeonryuk Bridge will be constructed as a smart bridge representing South Korea, incorporating a multi-lane Hi-Pass system for safe and swift tollgate passage, as well as an intelligent traffic management system providing video analysis, traffic information, and road weather information.

The total project cost is 650 billion KRW. Korea Land & Housing Corporation (LH) will bear 521.2 billion KRW (80.2%), Incheon Urban Corporation 98.2 billion KRW (15.1%), Incheon International Airport Corporation 14.9 billion KRW (2.3%), Incheon Free Economic Zone Authority 13.1 billion KRW (2%), and Hansang Dream Island 2.5 billion KRW (0.4%).

Originally, the construction cost for the Third Yeonryuk Bridge was 500 billion KRW, reflected by LH in 2006 as part of the land development cost for Yeongjong and Cheongna International Cities, but due to project delays, inflation, and design processes, the total cost increased to 650 billion KRW.

The project had been delayed for a long time due to issues such as loss compensation for the operators of the toll roads Yeongjong Bridge and Incheon Bridge.

In November 2017, Incheon City and the Ministry of Land, Infrastructure and Transport reached an agreement that Incheon City would bear the full loss compensation if traffic volume decreased to 70% or less compared to just before the opening of the Third Yeonryuk Bridge, breaking the deadlock and finalizing the plan for "construction in 2020 and opening in 2025."

Incheon City expects that the construction of the Third Yeonryuk Bridge will improve residential conditions in Yeongjong International City, ensure punctuality for users of Incheon International Airport, and contribute to the development and investment attraction in the western metropolitan area.

This content was produced with the assistance of AI translation services.