Feasibility Study for Incheon-Seoul 4th Gyeongin Expressway... Target Completion by 2034

Connecting Incheon Old Downtown to Yeouido in 30 Minutes

The construction project of the 4th Gyeongin Expressway, which will connect Incheon’s original downtown area and Seoul underground, is being promoted.

On the 14th, Incheon City announced that it requested a feasibility study of this project, proposed by the private sector in July, from the Public Investment Management Center of the Korea Development Institute (KDI).

The 4th Gyeongin Expressway will be Incheon’s first urban expressway, connecting Yonghyeon-dong, Michuhol-gu, Incheon to Oryu-dong, Guro-gu, Seoul. It will be constructed as a four-lane, two-way, automobile-only road passing 70 to 80 meters underground over a total length of 18.7 km. The total project cost is estimated at 1.8 trillion KRW, with a construction period of five years, and it will be promoted as a Build-Transfer-Operate and share (BTO-a) type private investment project.

Route Map of the 4th Gyeongin Expressway Private Investment Project [Provided by Incheon City]

The city plans to proceed with the project aiming for completion in 2034, after the feasibility study is completed by the end of next year and the project is finalized through the private investment project review committee, followed by a third-party proposal announcement and implementation agreement.

This route had also received a private investment project proposal in 2020 and underwent a feasibility study, but the benefit-cost ratio (B/C) was 0.94, indicating insufficient profitability, and the project was halted.

Since then, the city has incorporated the 4th Gyeongin Expressway into the 2nd Road Construction and Management Plan, the 2040 Incheon Urban Master Plan, and the Jemulpo Renaissance (original downtown regeneration project) master plan, while laying the groundwork for re-promotion by exploring ways to secure economic feasibility with private investors who expressed interest in the project.

Currently, the east-west axis metropolitan arterial road network connecting Incheon and Seoul includes the Gyeongin Expressway, the 2nd Gyeongin Expressway, the 3rd Gyeongin Expressway, and the Incheon International Airport Expressway.

Incheon City expects that once the 4th Gyeongin Expressway opens, travel time from major local hubs such as Incheon Port and Incheon City Hall to Yeouido and the Gangnam area in Seoul will be reduced to 30 to 40 minutes.

It also anticipates that traffic volume on the 1st and 2nd Gyeongin Expressways will be dispersed, easing congestion on these roads. Currently, the daily traffic volume on the 1st and 2nd Gyeongin Expressways is 180,000 and 140,000 vehicles respectively, and the city forecasts that these will decrease by approximately 19,000 (11%) and 17,000 (18%) vehicles respectively after the opening of the 4th Gyeongin Expressway.

An official from Incheon City stated, "The opening of the 4th Gyeongin Expressway is expected to benefit 700,000 citizens, and it is anticipated to disperse traffic on the existing Gyeongin Expressway and revitalize the original downtown area."

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