Gyeongin Expressway Tops Nationwide Profit per Kilometer... 'Frequent Congestion' Service Rated Lowest

Assemblyman Heo Jong-sik "Need to Seek Appropriate Toll for Highway Undergrounding"

Perspective view of Incheon-Seoul Underground Expressway (Gyeongin Expressway Underground) [Provided by Incheon City]

[Asia Economy Reporter Park Hyesook] The Gyeongin Expressway recorded the highest profit per kilometer among nationwide expressways at 58 billion KRW, and it has generated toll revenue exceeding 1.3 trillion KRW over more than 50 years.

According to data received on the 19th from Korea Expressway Corporation by Heo Jongsik, a member of the National Assembly Land, Infrastructure and Transport Committee from the Democratic Party of Korea (Incheon Dong-gu Michuhol-gu Gap), the cumulative profit of the Gyeongin Expressway, which opened in 1968, was 780.6 billion KRW as of the end of last year, ranking first nationwide in profit per kilometer (58.2 billion KRW per km).

Next in line were the Gyeongbu Expressway with 31.8 billion KRW, the Capital Region 1st Ring Expressway with 30.1 billion KRW, and the Yeongdong Expressway with 16.2 billion KRW.

The cumulative toll revenue earned by the Gyeongin Expressway over more than 50 years until last year reached 1.3604 trillion KRW. Even after Incheon City decided in 2015 to transfer management rights of the section from Incheon Port to Seo-Incheon IC, which halved the expressway section, it still generates over 40 billion KRW annually in toll revenue.

However, the Level of Service (LOS) of the Gyeongin Expressway received the lowest grade 'F'. As of last year, the average daily traffic volume was about 180,000 vehicles, exceeding the road capacity of 168,000 vehicles, causing habitual congestion for 3 to 4 hours daily, mainly during commuting hours.

The Ministry of Land, Infrastructure and Transport is promoting the "Incheon-Seoul Underground Expressway Construction Project," which will underground a 19.3 km section from Namcheongra IC to Sinwol IC to improve this situation. The plan is to convert the upper part of the existing Gyeongin Expressway section into a general road and build the country's first underground expressway beneath it.

The total project cost is 2.0856 trillion KRW, and a preliminary feasibility study is currently underway, with completion targeted for 2029 if the study passes.

However, since there is a plan to collect tolls again to cover operating costs, there are calls to set tolls at a reasonable level.

In particular, because the Seoul section terminus of the Incheon-Seoul Underground Expressway at Sinwol IC connects with the "Jemulpo Tunnel (Sinwol-Yeoui Underground Road)" promoted as a private investment project by Seoul City, Incheon citizens will have to pay tolls twice.

Assemblyman Heo Jongsik said, "As a result of analyzing toll revenue, the Gyeongin Expressway was revealed as the most profitable among domestic publicly funded expressways. This is because Incheon citizens have borne a huge amount of tolls for decades, so I will urge the government to set the tolls for the Incheon-Seoul Underground Expressway at an appropriate level."

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