Gomin Jeong Supporting Lee Jae-myung... "Ilsan Bridge, a 'Punitive Toll' for Ilsan and Gimpo Citizens"

"Must Return to the People for the Public Interest"

Ko Min-jung, Member of the Democratic Party of Korea [Image source=Yonhap News]

[Asia Economy Reporter Park Hyun-joo] Go Min-jeong, a member of the Democratic Party of Korea, stated, "A significant number of Gyeonggi Province residents are demanding the toll on Ilsan Bridge be made free," adding, "We must return what can be returned to the public in accordance with the public interest."

On the 13th, during the National Pension Service audit, Rep. Go advocated for the toll-free policy of Ilsan Bridge, emphasizing fairness.

She argued, "Macquarie, the major shareholder of Seoul Subway Line 9, attempted to charge higher fares than other subway lines but failed due to fairness issues," and added, "Unlike other Han River bridges, Ilsan Bridge alone charges tolls, which poses a problem as a 'punitive toll' on residents of Ilsan and Gimpo."

Earlier, on the 3rd of last month, Gyeonggi Province announced it would purchase the operating rights of Ilsan Bridge and designate it as a public interest asset. In political circles, there were criticisms that Governor Lee Jae-myung of Gyeonggi Province might be using Ilsan Bridge for political purposes. While the National Pension Service expects to earn 700 billion KRW in revenue from Ilsan Bridge by 2038, the compensation offered by Gyeonggi Province is reportedly only 200 billion KRW.

In relation to this, the audit on the same day saw a debate between ruling and opposition parties regarding Gyeonggi Province's move to reclaim the operating rights of Ilsan Bridge and push for toll-free usage.

Opposition lawmakers pointed out that Gyeonggi Province is seizing the operating rights of Ilsan Bridge, which the National Pension Service legitimately invested in, at a low price. Kim Mi-ae of the People Power Party said, "If Gyeonggi Province reclaims the operating rights and makes the bridge toll-free, it will cause enormous losses to the national retirement funds and violate pension fund management principles," adding, "Governor Lee suddenly and unilaterally announced the toll-free policy and reclamation of operating rights last month, which is a procedural violation."

Lee Jong-sung, also from the People Power Party, raised his voice, saying, "The true owners of Ilsan Bridge are neither Gyeonggi Province nor the National Pension Service but the people who entrusted their retirement funds," and called the move "nothing more and nothing less than a political show."

On the other hand, ruling party lawmakers defended the toll-free policy, stating it was not a unilateral or sudden plan. Nam In-soon of the Democratic Party explained, "The toll-free policy for Ilsan Bridge was also proposed during the tenure of former Governor Nam Kyung-pil." Kim Won-i, also from the Democratic Party, said, "Currently, Gyeonggi Province has stated it will provide fair compensation without damaging shareholder value within the legal scope, so I hope both parties will negotiate well."

Meanwhile, Kim Yong-jin, Chairman of the National Pension Service, said, "Public interest disposition involves the revocation of business rights, not acquisition, so I hope it does not reach that point," adding, "We will respond well to ensure that the public does not worry under any circumstances."