8 Trillion Won Invested in 'Siheung~Suwon Expressway' Groundbreaking in '27... KDI Passes Feasibility Review

The 'Siheung~Suwon Expressway Private Investment Project,' aimed at alleviating vehicle congestion in the southwestern Gyeonggi region, has passed the private investment feasibility review.

Gyeonggi Province announced on the 22nd that the Suwon private expressway project, spanning a total length of 15.2 km connecting Geumidong in Siheung City to Gocheondong in Uiwang City, has passed the private investment feasibility assessment by the Korea Development Institute Public Investment Management Center (KDI PIMAC), signaling a green light for construction to begin in 2027.

The project will involve an investment of 800 billion KRW and will be promoted by the 'Siheung Suwon Expressway Corporation' (tentative name), consisting of Kumho Construction and others.

Gyeonggi Province expects that once the road is completed, travel time from the southern Gyeonggi area to Incheon Airport will be reduced by more than 30 minutes, significantly contributing to the alleviation of traffic congestion in the southwestern Gyeonggi region.

In particular, by completing the east-west axis 5 that connects the 3rd Gyeongin Expressway and the Suwon Outer Ring Road, it is also expected to help balance development between the eastern and western parts of Gyeonggi Province.

Kang Hyun-il, Director of the Road Policy Division of Gyeonggi Province, explained, "We plan to swiftly proceed with the project aiming for construction to start in 2027, going through procedures such as strategic environmental impact assessment, third-party announcement for selecting private investment operators, signing of implementation agreements, and approval of implementation plans."

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