Seoul Mayor Oh Se-hoon said in a YouTube video released on the 28th, "In the (reconstruction project for) the Gangnam Express Bus Terminal, about 2 trillion won in public contributions will come out, and about half could be used as part of the 3.4 trillion won needed to build the underground urban expressways for the Inner Ring Road and the Bukbu Arterial Road."
In a video filmed on the 27th, Oh sat in the driver's seat of a passenger car and, together with Seoul Vice Mayor Kim Byung-min, drove along the Seoul Inner Ring Road and surrounding areas to explain the policy vision "Again, the heyday of Gangbuk." He posted the video on his YouTube channel "Oh Se-hoonTV."
In the video, Oh said, "It's been two to three years since I began using the term 'Again, the heyday of Gangbuk,'" adding, "When we talk about balanced development between Gangnam and the rest, 'Gangbuk' refers to all non-Gangnam areas. I use the term with the idea of developing non-Gangnam areas in balance with Gangnam."
"Again, the heyday of Gangbuk" is a plan to redistribute housing, jobs, and cultural infrastructure, redesign urban functions, and ease Gangnam concentration to spread Seoul's growth axis across multiple locations. The key tools are putting the Inner Ring Road and the Bukbu Arterial Road underground.
During commuting hours, the travel speed on the 20.5-kilometer section of the Inner Ring Road and the Bukbu Arterial Road does not even reach 20 kilometers per hour. The Seoul Metropolitan Government plans to put this section underground by 2035 and demolish the elevated road above ground in 2037.
Regarding the undergrounding project, Oh said, "It's a mega project costing 3.4 trillion won," adding, "When we develop large projects in Seoul, there are public contributions we collect from the private sector. Fifty percent is used for nearby development, and 50% is collected in cash so it can be used in the Gangbuk area; the system has been refined to allow that."
At 4:40 p.m., when Oh was driving, the vehicle speed on the Inner Ring Road did not even reach 20 kilometers per hour. Oh said, "It's fair to say it has already lost its (arterial road) function. That's why the undergrounding will begin," adding, "Some people say it's been only 30 years since it was built, so why demolish it already, but from preparation to demolition takes more than 10 years." He explained that current maintenance costs are 35 billion won a year, which will rise to 50 billion to 60 billion won a year in 10 years.
While driving, Oh mentioned a redevelopment project underway near Yujin Shopping Center in Hongje-dong, Seodaemun-gu, Seoul. "It feels quite dark as we pass under the elevated road," he said. "If this disappears and the Inner Ring Road goes away, this neighborhood will change dramatically."
Oh also said, "If even one pillar supporting the main body (the elevated section) of the Inner Ring Road is removed, one or two lanes appear," adding, "If (the pillars) are gone, the city of Seoul becomes much brighter."
He also drew a comparison with Tokyo. Oh said, "Thanks to (the removal of elevated roads), Seoul has become a much brighter city compared with Tokyo," adding, "Tokyo built everything with private capital and collects tolls, so it cannot demolish them. The Seoul Metropolitan Government built them as fiscal projects, so if we decide to, we can demolish them."
He continued, "When I first became mayor 20 years ago and visited Tokyo, I felt extremely confident inside," adding, "Just wait 10 years, Seoul will become a much brighter and truly livable city; I remember being full of confidence."
In the video, Oh also mentioned the Seoul Arena, which will be completed next spring, as well as the Sewoon District, the Yongsan International Business District, the East Seoul Bus Terminal, and the Chang-dong rail yard site.