Hwaseong City Begins Negotiations on 680 Billion Won Hwaseong-Osan Expressway Private Investment Project

Connecting 13.3 km from Hyangnam in Hwaseong to Geumam in Osan
Expected to Ease Traffic Congestion in the Southwestern Seoul Metropolitan Area

Hwaseong Special City in Gyeonggi Province (Mayor Jeong Myunggeun) announced on March 13 that it has officially begun negotiations with the HL D&I Halla Consortium to draft an implementation agreement for the Hwaseong-Osan Expressway private investment project, which has a total project cost of approximately 680 billion won.

Officials from Hwaseong Special City and HL D&I Hanla Consortium are holding a kickoff meeting for negotiations on the Hwaseong-Osan Expressway project. Photo by Hwaseong City

The Hwaseong-Osan Expressway project involves constructing a dedicated four-lane highway spanning about 13.3 kilometers, connecting Hyangnam-eup in Hwaseong City to Geumam-dong in Osan City. Once the expressway is open, it is expected to significantly alleviate traffic congestion and reduce travel times in the southwestern area of the Seoul metropolitan region, as well as greatly improve accessibility to industrial and residential zones.

The implementation agreement is a key procedure for advancing the private investment project and will be concluded following a comprehensive review of the following: the adequacy of traffic demand forecasting, the appropriateness of project management and operation plans, the suitability of design and construction plans, the reasonableness of the total project cost, toll fees and expected returns, and matters related to fiscal support, management, and supervision. The city plans to conduct negotiations in a manner that ensures a balanced approach to public interest and business feasibility.

Based on the results of the negotiations, the city will proceed with the procedures to sign the implementation agreement, coordinate with relevant agencies, and carry out subsequent administrative steps without delay, with the aim of expediting the project's transition to the groundbreaking phase.

Kim Kidu, Director of the Safety and Construction Office, stated, "This negotiation on the implementation agreement represents an important turning point in the progress of the project," adding, "We will work to ensure that a reasonable agreement is reached, prioritizing the interests of citizens and regional development."

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