Yongin City Confirms Private Proposal Project for Road Between Giheung and Yongin

Yongin City has confirmed a private proposal project for a road extending from Gomae-dong, Giheung-gu to Samga-dong, Cheoin-gu.

On the 15th, Yongin City and Hanshin Public Corp. (Representative Director Tae Ki-jeon) held a signing ceremony for the "Implementation Agreement for the Private Proposal Project for the Road Between Giheung and Yongin" in the Policy Discussion Room on the 4th floor of City Hall.

This private proposal project is being implemented to resolve urban dysfunction caused by severe congestion during entry and exit to Yongin City due to saturation of the Yeongdong Expressway and National Route 42, as well as to promote balanced regional development, requiring the construction of a new four-lane road in both directions on the route.

Specifically, the project aims to ▲alleviate traffic congestion on National Route 42 and the Yeongdong Expressway toward Yongin's city center areas ▲provide connectivity functions between the southern metropolitan area's living zones and logistics trunk transportation ▲reduce travel distance and time between western and eastern Yongin, thereby reducing operation costs for the Giheung-Yongin road private proposal project.

On this day, Yongin City and Hanshin Public Corp. signed an agreement stipulating that the private toll road between Giheung and Yongin will approve its implementation plan by December of next year, follow procedures for divided surveying and compensation delegation, begin construction in the first half of 2012, and complete construction by 2015 with total project costs of approximately 203 billion won.

Additionally, they agreed to collect tolls of 1,200 won based on small vehicles for 30 years until 2044, and the city will not bear any operational losses that may occur.

The Giheung-Yongin road will have a length of 6.98 km and a width of 20m (four lanes in both directions), and will include one entrance and exit facility and one bridge, three tunnels, one toll plaza and maintenance office.

An official from Yongin City said, "When this road opens, it will form a north-south arterial road axis together with the Singal-Suji road, and travel distance and time from Dongbaek, Jukjeon, and Yongin City Hall to Gomae-dong Samsung Semiconductor and Dongtan New City will be shortened, reducing operation costs and promoting balanced regional development," adding, "Unlike existing private toll roads, we have signed an agreement without guaranteed operational revenue, so there will be no future financial burden on the city."