Suwon-Uiwang Expressway Expansion to Begin Construction This Year

The expressway expansion connecting Seo-Suwon and Uiwang will commence construction this year, with 295.4 billion won allocated for the project.

According to the Ministry of Economy and Finance, the 2nd Private Investment Project Deliberation Committee, chaired by Minister Kang Man-soo last month, approved new private investment projects totaling 1.4 trillion won to be pursued within this year, including the Suwon-Uiwang expressway expansion project.

The Seo-Suwon~Uiwang expressway expansion project will expand a 13 km section connecting Geumgok-dong, Gwonseon-gu, Suwon and Cheonggyae-dong, Uiwang from four lanes (two-way) to six to eight lanes. The project is being pursued through private sector proposals, with 295.4 billion won in total investment. Gyeonggi South Road Co., Ltd. (tentative name), designated as the preferred partner, will conduct environmental and traffic impact assessments within this year and commence construction as early as late this year or January of next year, with completion targeted for June 2012.

Upon project completion, the expansion of the trunk road connecting Gyeonggi Province's southern regions including Hwaseong, Suwon, and Uiwang with Seoul is expected to contribute to resolving chronic vehicular congestion.

The Ministry of Economy and Finance estimates that after completion of the Seo-Suwon~Uiwang expressway in 2012, reduced travel times between Uiwang and Gwacheon will generate benefits of approximately 2,287 won per vehicle and annual average logistics cost savings of 54.2 billion won. Previously, Gyeonggi Province and Suwon City held resident briefing sessions on the 17th and 18th in Suwon and Uiwang respectively regarding the road expansion.

Additionally, the Ministry of Economy and Finance plans to construct a light rail transit project connecting Ui-dong, Gangbuk-gu and Sinsuldong, Dongdaemun-gu in Seoul (total length 10.7 km, dual-track, total project cost 70.45 billion won) through a revenue-based private investment project (BTO) method by 2013, and will construct a second access road to Busan New Port (total project cost 37.31 billion won) connecting Nammun-dong, Jinhae and Jinnye-myeon, Gimhae over a total distance of 15.26 km (four-lane, two-way).