The Ministry of Land, Infrastructure and Transport said on the 18th it will break ground in 2028 on the Pyeongtaek–Siheung private expressway, a core arterial road in the southwestern Seoul metropolitan area.
The Ministry of Land, Infrastructure and Transport (MOLIT) selected a consortium led by Kiwoom Asset Management as the preferred bidder for the Pyeongtaek–Siheung Expressway expansion private investment project. The government aims to start construction in 2028 and open the road in 2033.
The project centers on widening the section from Seopyeongtaek JCT to Naman-san IC from the current four lanes to six to eight lanes in both directions. Since opening in 2013, the Pyeongtaek–Siheung Expressway has served as a logistics and commuting corridor for the southwestern metropolitan area, but chronic congestion has persisted as traffic volumes increased.
The Ministry of Land, Infrastructure and Transport (MOLIT) issued a call for proposals in July using a third-party proposal method. A consortium led by Kiwoom Asset Management, which included Kumho E&C, the original proponent of the project, was the sole applicant. MOLIT reviewed the appropriateness of the project plan through evaluations by outside experts over two days, Dec. 16–17.
The government and the consortium will begin negotiations early next year on details such as the total project cost and operating method. Once talks conclude, they will sign an implementation agreement and begin full-scale design.
The Ministry of Land, Infrastructure and Transport (MOLIT) expects the expansion to ease congestion in the southwestern metropolitan area and allow a proactive response to rising cargo volumes at Incheon Port and Pyeongtaek-Dangjin Port, as well as traffic demand from nearby industrial complex development.
Lee U-je, director general of roads at the Ministry of Land, Infrastructure and Transport (MOLIT), said, "The Pyeongtaek–Siheung Expressway expansion will improve mobility in the southwestern metropolitan area and strengthen regional economic, industrial and logistics competitiveness," adding, "We will continue to identify improvement and expansion projects that can resolve congestion on aging private roads."