The construction project of the Wirye-Sinsa Line, which had been experiencing difficulties, has begun the rapid preliminary feasibility study process.
On the 30th, the Seoul Metropolitan Government announced that the construction project of the Wirye-Sinsa Line has been selected as a target for rapid preliminary feasibility study after deliberation by the Ministry of Economy and Finance's Financial Project Evaluation Committee. The rapid preliminary feasibility study is a system designed to quickly respond to urgent economic and social situations, and it takes about nine months for railway projects.
The Wirye-Sinsa Line is a light rail line connecting the Wirye New Town to Gangnam District in Seoul. It was first announced in 2008 as part of the metropolitan traffic improvement measures for the Wirye New Town, but the project has been delayed due to route adjustments and repeated withdrawals by private contractors.
After the final negotiations between the Seoul Metropolitan Government and the GS Engineering and Construction consortium, which was the original preferred bidder, collapsed in June last year, the city increased the project budget twice to attract private contractors, but the project ultimately failed in November of the same year.
In December, the Seoul Metropolitan Government canceled the designation of the private investment project and has been consulting with the Ministry of Economy and Finance and related government agencies to convert the project into a publicly funded financial investment project.
The Seoul Metropolitan Government also plans to initiate the amendment process for the 'Second Seoul Metropolitan City Urban Railway Network Construction Plan,' which reflects the change in the promotion method for the Wirye-Sinsa Line project from a private investment project to a public financial project.