'Yangju to Samseong Station in 29 minutes'... Ministry of Economy and Finance designates private operator for GTX-C line project

Ministry of Economy and Finance to Hold Private Investment Project Deliberation Committee Meeting on the 19th

Kim Wan-seop, Vice Minister of Strategy and Finance, is delivering opening remarks while presiding over the 'Private Investment Project Deliberation Committee' held on the 19th at the Korea Fiscal Information Service in Jung-gu, Seoul.

The private investor for the Metropolitan Area Express Train (GTX) Line C has been designated. If construction is completed as planned in five years, major areas in Seoul and the metropolitan area are expected to be connected within 30 minutes.

On the 19th, the Ministry of Economy and Finance held a Private Investment Project Deliberation Committee meeting at the Financial Information Service in Jung-gu, Seoul, chaired by Vice Minister Kim Wan-seop, to review and approve five agenda items including the GTX Line C implementation agreement.

GTX Line C is a Build-Transfer-Operate (BTO) private investment project to construct a metropolitan express railway between Deokjeong-dong, Yangju-si, Gyeonggi-do, and Suwon-si. Currently, it takes 80 minutes from Deokjeong Station to Samsung Station, but once Line C begins operation, the time will be drastically reduced to 29 minutes. Connecting major metropolitan areas within 30 minutes is expected to alleviate traffic congestion and significantly reduce commuting times.

The project operator selected is the “Sudogwon Gwangyeok Geuphaeng Cheoldo C Noseon Jusikhoesa (tentative name).” Construction is planned to start within this year and be completed by 2028. Vice Minister Kim urged prompt follow-up procedures and active cooperation from the competent authorities to ensure the GTX-C project begins construction within the year.

On the same day, the committee also reviewed and approved third-party announcement plans for the Seoul-Yangju Expressway and Busan Port New Port ship repair private investment projects. The Defense Broadband Integrated Network private investment project extended its operation period by nine months, and the Cheonan City Freight Vehicle Public Parking Lot construction project was deemed appropriate.

Meanwhile, the Ministry of Economy and Finance has discovered new private investment projects amounting to 6.3 trillion won as of the first half of this year. This includes 4.1 trillion won in road projects and 1.3 trillion won in education sector projects. The execution amount reached 2.21 trillion won, exceeding half of the annual execution target of 4.35 trillion won. Vice Minister Kim emphasized, “Through revitalizing private investment in the second half of the year, we will successfully achieve the discovery of new projects exceeding 13 trillion won and meet the execution targets within the year.”