Consultation on Cost Sharing with LH... Detailed Design Service Next Year
Construction of a road connecting Songtan Old Downtown and Godeok International New City in Pyeongtaek-si, Gyeonggi-do, will be actively promoted.
Pyeongtaek City announced on the 17th that it is currently discussing cost-sharing plans with Korea Land and Housing Corporation (LH) to promote an underground road project that connects Kyobo Life Insurance in the Songtan Tourism Special Zone area of the old downtown, which had been cut off by the Gyeongbu Line railroad, to Godeok International New City. The road will be a 4 to 6-lane, 780-meter-long underground road.
This road, which has been promoted since the urban planning facility decision in 2015, passed the feasibility study by the Local Investment Management Center (LIMAC) in February after undergoing its own feasibility evaluation. Although the economic feasibility was low due to increased compensation and construction costs during the feasibility study, the project secured feasibility based on the necessity for balanced regional development and the need to alleviate traffic congestion on surrounding roads.
The city plans to finalize a cost-sharing plan of 140 billion KRW with LH and proceed with construction starting next year after administrative procedures such as detailed design work.
In addition to this project, the city explained that it plans to complete cost-sharing discussions with LH within this year for the road between Seojeong-dong Bokchang Elementary School and Wellbeing Mart and to actively promote the project starting next year.
Mayor Jeong Jang-seon said, "Balanced development is one of the biggest challenges for rapidly growing Pyeongtaek," adding, "We will do our best to establish a foundation for mutual growth by strengthening the connectivity between the old downtown and the new city."
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