90% of Gyeonggi Residents Believe Ilsan Bridge Toll Adjustment is "Necessary"

[Suwon Ilbo=Park No-hun Reporter] A survey has revealed that 9 out of 10 Gyeonggi residents believe that adjustment of the Ilsan Bridge toll is "necessary."

Gyeonggi Province announced on the 22nd that in a public opinion survey conducted on 2,000 residents from the 18th to 23rd of last month, 90% of respondents answered that toll adjustment of the Ilsan Bridge (reduction or free passage) is "necessary."

Regarding the appropriate adjustment rate, "50% reduction" was highest at 29%, followed by "free passage" at 24%.

In particular, the "free passage" opinion in Goyang, Paju, and Gimpo cities, where many Ilsan Bridge users reside, was 36%, higher than the provincial average of 24%.

70% of Gyeonggi residents were found to be aware of the Ilsan Bridge, and among them, 51% have used it in the past year.

This corresponds to 35% of the entire Gyeonggi population, and the estimated number of Ilsan Bridge users among those 18 years and older is approximately 3.99 million.

For Ilsan Bridge users, satisfaction levels were: "satisfied" 34%, "neutral" 43%, and "dissatisfied" 23%. In particular, the majority of dissatisfied users cited expensive toll (91%) as the reason.

The Ilsan Bridge connects Goyang and Gimpo cities in Gyeonggi Province and is the only toll road among 27 Han River bridges.

Ilsan Bridge toll revenues currently go to the National Pension Service, which is the largest shareholder of Ilsan Bridge Co., Ltd.

Current Ilsan Bridge toll rates are ▲ Compact car 600 won ▲ Small (Type 1) 1,200 won ▲ Medium (Types 2·3) 1,800 won ▲ Large (Types 4·5) 2,400 won.

In response, the majority of residents (82%) answered it is "at a burdensome level."

The Ilsan Bridge toll rate is 652 won per km (based on 1,200 won), which is 3 to 5 times higher than major private investment toll roads such as Seoul Metropolitan Expressway Ring Road 1 (109 won) and Incheon International Airport Expressway (189 won).

While residents agreed (86%) that "the National Pension Service should maintain soundness and health of the national pension through investment projects," they also agreed (85%) that "it is inappropriate for the toll to impose excessive burden on some citizens using the Ilsan Bridge."

Meanwhile, regarding the 8% interest rate on borrowing for Ilsan Bridge construction, residents placed greater weight on the opinion (86%) that "adjustment is necessary as it is excessive compared to other private investment projects or current market rates." Only 14% agreed that "the current 8% rate should be maintained according to the agreement made at that time."

Previously, Gyeonggi Province Governor Lee Jae-myung stated at a "field consultation meeting for improving Ilsan Bridge toll" on the 15th of last month, "I do not believe it is right for the toll to impose excessive burden on some residents," and pledged, "We will rationalize fund raising to prevent excessive burden from occurring."

In response, Gyeonggi Province, joining hands with the Gyeonggi Provincial Assembly on the 19th of last month, formally requested Ilsan Bridge Co., Ltd. to initiate debt refinancing negotiations, and held a "launch meeting of expert task force on Ilsan Bridge toll issues" on the 5th with experts from various fields including accounting and finance.

On the 24th, a "National Assembly forum on fair operation of private toll roads" is scheduled to be held at the Yeouido E-Reum Center.

This survey was conducted by Gyeonggi Province through K.Stats Research Inc., a polling agency, from February 18-23 targeting 2,000 residents aged 18 and over through online survey method, with a confidence level of 95% and sampling error of ±2.2%p.