Ministry of Economy and Finance to Hold the 5th Fiscal Project Evaluation Committee Meeting on the 31st
The underground expressway of the Metropolitan Area 1st Ring Road (Guri~Seongnam), the Daejeon-Sejong-Chungbuk Metropolitan Railroad (Chungcheong Area Metropolitan Railroad), and the access road project to the Busan Centum 2 District Urban High-tech Industrial Complex have been selected as subjects for preliminary feasibility studies.
On the 31st, the Ministry of Economy and Finance held the 5th Fiscal Project Evaluation Committee meeting of 2023 to review and approve the selection of projects for preliminary feasibility studies and the results of major projects' preliminary feasibility studies. At this committee meeting, three transportation facility projects were selected as subjects for preliminary feasibility studies to implement national agenda items such as the 30-minute commute era in the metropolitan area and the establishment of regional transportation infrastructure.
The construction of the underground expressway of the Metropolitan Area 1st Ring Road (Guri~Seongnam) is a project to alleviate congestion on the 1st Ring Road by building an expressway underground in the section from Toegyewon Interchange (IC) to Pangyo Junction (JCT), where frequent traffic jams occur. The Daejeon~Sejong~Chungbuk Metropolitan Railroad project aims to shorten travel time between Daejeon, Sejong, and Cheongju to create a one-hour living zone. The construction of the access road to the Busan Centum 2 District Urban High-tech Industrial Complex is a project to improve accessibility by connecting the industrial complex with the Busan Outer Ring Road.
In addition, the statistical platform and One Portal construction project were also selected as subjects for preliminary feasibility studies. Furthermore, the 6th water supply system adjustment project in the lower Han River and the Korea-ASEAN National Garden creation project were also selected as subjects for preliminary feasibility studies.
Moreover, the committee approved the passage of preliminary feasibility studies for two projects. The Ministry of Economy and Finance explained that the Gukdong Port construction project is expected to enhance convenience for fishermen and tourists by expanding the insufficient berthing facilities at Gukdong Port. The Busan New Port Songdo development project is expected to improve port operation efficiency by promoting land reclamation at Busan Port Jinhae New Port site through the use of stone materials from Songdo near the new port and securing additional port land to respond to future increases in port cargo volume.
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