Agreement Reached on Cost Sharing for Songdo Reservoir Expansion in Incheon... Construction to Begin Next Year

Incheon City, Oceans and Fisheries Office, and IPA Reach Agreement on 51.8 Billion Won Cost Sharing

The "Pureunsongdo Reservoir Expansion Project," a key issue in Songdo International City, Incheon, and directly linked to the stability of daily life for citizens and businesses, is now set to move forward in earnest.

On September 18, Incheon City announced that it had reached a final agreement with the Incheon Regional Office of Oceans and Fisheries and Incheon Port Authority (IPA) on sharing the costs for the expansion of Pureunsongdo Reservoir. Under this agreement, out of the total project cost of 51.8 billion won, Incheon City will contribute 44 billion won, the Incheon Regional Office of Oceans and Fisheries will pay 3.6 billion won, and IPA will provide 4.2 billion won.

Panoramic view of Pureunsongdo Reservoir. Incheon City

The expansion of Pureunsongdo Reservoir is intended to meet the rapidly increasing water demand resulting from the development of the Bio Complex in Zone 11 of Songdo and the hinterland complex of Incheon New Port in Zone 10. However, disagreements over the allocation of the multi-billion-won project cost among Incheon City (Incheon Free Economic Zone Authority), the Incheon Regional Office of Oceans and Fisheries, and IPA led to a prolonged stalemate.

In particular, last year, the issue of excessive cost-sharing was raised, to the extent that the project itself faced uncertainty. As a result, Incheon City held several working-level consultations with the relevant agencies, revised the ordinance on collecting waterworks beneficiary charges, and established a rational cost-sharing plan that reflects each agency's actual usage and increased demand.

Incheon City plans to complete the final billing procedures for the agreed-upon contributions within this month and begin the reservoir expansion construction next year. The city expects that, once the project is completed, it will be able to provide a stable supply of tap water to all residents of Songdo and to companies in the Songdo Zone 11 Bio Cluster, including Samsung Biologics.

An official from Incheon City stated, "This agreement is significant not just as a matter of securing a budget, but as a resolution of years-long inter-agency conflict through communication and institutional reform. The expansion of Pureunsongdo Reservoir will not only strengthen the competitiveness of Incheon's core growth engine, the bioindustry, but also enhance the safety and convenience of daily life for citizens."

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