Hyundai Construction Consortium to Build 1.8 Trillion Won 'Daejang Hongdae Line' Private Railway Project

Scheduled to Open in 2031
Role in Alleviating Traffic Congestion in Seoul's Gangseo and Southwestern Areas

[Asia Economy Reporter Kim Min-young] The Hyundai Construction consortium has been designated as the preferred negotiation partner for the construction of the wide-area private railway (Daejang-Hongdae Line) connecting the 3rd phase new town Gyeonggi Bucheon Daejang and Seoul Hongdae Entrance Station. Once the Daejang-Hongdae Line opens in 2031, it is expected to contribute to alleviating traffic congestion in the Gangseo area of Seoul and the southwestern metropolitan area.

On the 9th, the Ministry of Land, Infrastructure and Transport announced that it plans to designate the Hyundai Construction consortium as the negotiation partner following the evaluation of the Bucheon Daejang-Hongdae private railway project application.

Hyundai Construction, currently in the final negotiation stage for GTX-C, has been designated as the negotiation partner for the Daejang-Hongdae Line as well, thus undertaking two private railway projects.

The Ministry plans to begin negotiations with the negotiation partner from the end of this month, aiming to start construction in 2025 and open the line in 2031.

During negotiations, based on the Hyundai Construction consortium’s business plan, the final project route, station locations, and fare levels will be determined by reflecting local opinions as much as possible within the scope of no technical or legal issues.

To this end, the government negotiation team will be composed of experts with extensive experience in private railways, including the Korea Transport Institute, Korea Rail Network Authority, accounting and law firms, to conduct thorough and meticulous negotiations covering all areas such as technology, finance, operations, and legal matters.

Lee Yoon-sang, Director of the Railway Bureau at the Ministry of Land, Infrastructure and Transport, said, "The southwestern metropolitan area has relatively lacked railway services, and the Daejang-Hongdae Line is expected to greatly improve transportation convenience in the area," adding, "We will carefully review the process to ensure sufficient public interest is secured during negotiations."