Expecting Momentum for Gwangju Sinhyeon~Yongin Gorim Expressway Development

KDI Eligibility Review Passed
Yongin City "Targeting Construction Start in 2026"

The 'Yongin~Gwangju Expressway Private Investment Project' in Gyeonggi Province, which had been stalled due to business feasibility issues, is expected to gain momentum.

According to Gyeonggi Province and Yongin City on the 6th, the Yongin~Gwangju Expressway project passed the private investment eligibility review by the Korea Development Institute (KDI) Public Investment Management Center at the end of last month.

Accordingly, the province plans to start construction in 2026 after conducting a strategic environmental impact assessment, issuing a third-party announcement for selecting a private investment operator, and signing an implementation agreement.

The KDI's investigation analyzed the project's benefit-cost ratio (B/C) as 1.28. A B/C ratio above 1 means that the benefits outweigh the costs, indicating business feasibility.

This project is a private investment initiative to establish and improve a 17.3 km road section connecting Gorim-dong, Cheoin-gu, Yongin City, and Taejae Hill in Sinhyeon-dong, Gwangju City. Among the originally planned routes, the 9.1 km section from Mapyeong-dong, Yongin to Pogok-eup was included in the 2006 five-year plan for national and local roads but faced difficulties in project promotion after the Board of Audit and Inspection found it economically unfeasible.

However, with the recent passing of the KDI eligibility review, the project’s re-promotion has gained strength. Yongin City expects that once the road is completed, travel time between Yongin, Gwangju, and Seongnam will be reduced by 30 minutes, and traffic congestion on National Routes 42 and 45 passing through Yongin city will be alleviated by dispersing traffic volume, thus resolving habitual traffic jams in the Yongin area.

The city added that if the 2.7 km road section between Mapyeong IC and Gorim-dong, being promoted as a metropolitan traffic improvement measure in conjunction with the 'Yongin International Logistics 4.0 Logistics Complex' development, is also completed, the entire section of Local Route 57 'Mapyeong~Mohyeon' could be connected.

Lee Sang-il, mayor of Yongin City, said, "Once this road is completed, we expect it will significantly reduce the surrounding traffic burden caused by the establishment of the Advanced System Semiconductor National Industrial Complex in Ildong and Namsa."

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