'Seoul~Yangpyeong Expressway', Ministry of Economy and Finance 'Preliminary Feasibility Study Passed'

Total Project Cost Over 1.4 Trillion Won... Construction Starts in 2027, Completion Expected in 2033

Korea Development Institute (KDI)

[Asia Economy Reporter Ra Young-cheol] The long-awaited project in the Gwangju, Hanam, and Yangpyeong areas of Gyeonggi Province, the 'Seoul~Yangpyeong Expressway Project,' has passed the government's preliminary feasibility study.

On the 30th, Gwangju City stated regarding the passage of the preliminary feasibility study, "We expect it to play a significant role in revitalizing local tourism by resolving the imbalance in the underdeveloped eastern Gyeonggi region caused by various regulations and improving transportation conditions."

Earlier, in February, the city submitted a joint petition to the government along with Hanam City and Yangpyeong County to expedite the construction of the 'Seoul~Yangpyeong Expressway' sections from Seoul Songpa to Gwangju Toechon and Namjong to Yangseo.

Additionally, the heads of the three local governments attended the preliminary feasibility evaluation committee held by the Korea Development Institute (KDI) this month to emphasize the necessity of the project.

So far, the 'Seoul~Yangpyeong Expressway Project' began its preliminary feasibility study in May 2019, but progress has been slow.

The city plans to focus its efforts on early construction by closely cooperating with central government ministries to ensure no setbacks in subsequent processes.

Shin Dong-heon, Mayor of Gwangju City, said, "The Seoul~Yangpyeong Expressway will be an important road that improves transportation in Gwangju, Hanam, and Yangpyeong and complements the metropolitan area transportation network to alleviate traffic congestion."

Meanwhile, the total project cost for the Seoul~Yangpyeong Expressway is approximately 1.4 trillion won. Following the passage of the preliminary feasibility study, feasibility evaluation, basic design, and detailed design will be completed starting next year, with construction beginning in 2027 and completion scheduled for 2033.

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