The Ministry of Land, Infrastructure and Transport said on the 28th that it will conduct a third-party proposal notice through Apr. 29 to select a private investor to implement the Seongnam–Seocho Expressway project.
The project will build a four-lane, two-way expressway over a 10.7-kilometer section from near Pangyo, where the Gyeongbu Expressway and the Yongin–Seoul Expressway meet, to the Umyeonsan Tunnel. The Seongnam–Seocho Expressway was promoted to distribute traffic near Yangjae Interchange on the Gyeongbu Expressway, a section prone to chronic congestion. The estimated project cost is 561.2 billion won. The Ministry of Land, Infrastructure and Transport (MOLIT) plans to select a preferred negotiating partner and push the project forward with the goal of breaking ground in 2029 and opening the expressway in 2034.
Lee U-je, director general for roads at the Ministry of Land, Infrastructure and Transport (MOLIT), said, "With this project, chronic congestion around the Yangjae Interchange area will ease, reducing travel time for the public and substantially improving road user convenience," adding, "The trunk-line function of the Gyeongbu Expressway will also be enhanced."