The construction project of the 4th Gyeongin Expressway, an automobile-only road connecting Incheon's original city center and Seoul underground, will be promoted.
In July, the Incheon Metropolitan Government commissioned the Korea Development Institute and the KDI Public Investment Management Center to investigate the eligibility of the project proposed by the private sector.
The 4th Gyeongin Expressway is a four-lane urban expressway that passes 70-80m underground in the 18.7km section between Yonghyeon-dong, Michuhol-gu, Incheon and Oryu-dong, Guro-gu, Seoul.
The total project cost is estimated at 1.8 trillion won and the construction period is 5 years, and it will be promoted through a profit-sharing private investment project (BTO-a).
The Incheon Metropolitan Government plans to push for completion in 2034 after a qualification survey at the end of next year after a third-party proposal announcement and an implementation agreement if the project is confirmed through the private investment project review committee.
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