Hyosung Heavy Industries Consortium Selected as Preferred Negotiation Partner for Seongnam~Seocho Expressway
Ministry of Land, Infrastructure and Transport:
"Construction to Begin in 2029,
Expressway to Open in 2034"
A project to construct a road connecting Pangyo and the area near Umyeonsan in Seocho is being promoted to improve traffic flow around the Yangjae Interchange (IC) on the Gyeongbu Expressway.
The Ministry of Land, Infrastructure and Transport announced on June 22 that it has selected the Hyosung Heavy Industries Consortium as the preferred negotiation partner for the Seongnam~Seocho Expressway private investment project. This project involves the construction of a new four-lane, two-way expressway stretching approximately 10.7 kilometers from the area near Pangyo in Seongnam, Gyeonggi Province, to the Umyeonsan Tunnel in Seocho-gu, Seoul. The estimated project cost is about 561.2 billion won.
The Ministry of Land, Infrastructure and Transport expects that, once the expressway opens, it will greatly improve vehicle flow moving from the southern part of the Seoul metropolitan area to the southwestern region of Seoul by dispersing traffic congestion in the Yangjae IC area. The Ministry and the Hyosung Heavy Industries Consortium plan to begin detailed negotiations, with construction set to commence in 2029 and the expressway targeted to open in 2034.
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Kim Hyojeong, Director General of the Road Bureau at the Ministry of Land, Infrastructure and Transport, stated, "This project will alleviate chronic congestion around the Yangjae Interchange, reducing travel times and improving convenience for road users. It will also enhance the role of the Gyeongbu Expressway as a main arterial route."
Seongnam to Seocho Expressway Location Map. Provided by the Ministry of Land, Infrastructure and Transport
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