Daewoo E&C Signs Implementation Agreement with Seoul City for Dongbu Expressway Underground Project

The Daewoo Engineering & Construction consortium signed an implementation agreement with the Seoul Metropolitan Government on the 27th for the Dongbu Expressway underground private investment project.

This project involves constructing a deep tunnel with 4 lanes in each direction over a 10.1 km stretch from Wolreunggyo in Seokgwan-dong, Seongbuk-gu to the southern end of Yeongdong Bridge in Cheongdam-dong, Gangnam-gu. The total project cost is 987.4 billion KRW, and the construction period is 5 years. The Daewoo E&C consortium will be responsible for maintenance and operation for 30 years.

The Dongbu Expressway, temporarily built in 1991 on the floodplain of Jungnangcheon, is a trunk road approximately 40 km long, connecting Sangchon IC in Uijeongbu-si, Gyeonggi-do to Bokjeong Intersection in Jangji-dong, Songpa-gu. It has served as a key transportation route in the northeastern area for over 30 years, but chronic issues such as frequent traffic congestion and flooding of Jungnangcheon during heavy summer rains have persisted.

Perspective View of the Dongbu Elevated Road Underground Project

The Seoul Metropolitan Government is proceeding with the first phase of the Dongbu Expressway underground project by dividing it into a private investment project (Wolreung to Yeongdong-daero, 10.1 km) and a public finance project (Yeongdong-daero to Daechi, 2.1 km), aiming to open in 2028. Upon completion, the total 12.2 km stretch of 4-lane underground road will drastically reduce travel time from Wolreung to Daechi from the current 30 minutes to about 10 minutes.

Meanwhile, the public finance section of the underground project (Yeongdong-daero) was also awarded to the Daewoo E&C consortium in January, raising expectations for synergy effects with the private investment section.

Baek Jeong-wan, Daewoo E&C project manager, said, "We are honored to sign the implementation agreement today for the project we first proposed as a private investment project in 2015," adding, "We will do our best to successfully complete the Dongbu Expressway underground road."