Ministry of Strategy and Finance's Preliminary Feasibility Study Request May Delay Project by 1-2 Years
Additional Preliminary Feasibility Study Unreasonable for Project Already Verified by Private Investment Eligibility Study 6 Years Ago
The Seoul Metropolitan District Mayors' Council (Chairman Lee Pil-hyung, Mayor of Dongdaemun District) announced on the 6th that it urges the Ministry of Economy and Finance to make a decisive decision for the swift promotion of the Wirye-Sinsa Line project.
The Wirye-Sinsa Line is a 14.8 km light rail line connecting Wirye New Town and Sinsa Station on Subway Line 3. Since the plan was established in 2008, no groundbreaking has taken place for 17 years.
Recently, the selection of private investment operators failed again in the second re-announcement of the Wirye-Sinsa Line project. Seoul City decided to convert this project into a public finance project and to promptly re-promote it. However, when converting to a public finance project, the Ministry of Economy and Finance requires a re-examination through a preliminary feasibility study.
As a result, concerns have arisen that the project period may be further delayed beyond the original opening target of 2028.
The Council believes that since the Wirye-Sinsa Line project’s feasibility was already verified through a private investment eligibility review six years ago, an additional preliminary feasibility study is an unnecessary procedure. They are concerned that if the project undergoes another preliminary feasibility study upon conversion to a public finance project, the project could be delayed by 1 to 2 years.
Additionally, the Council raised issues regarding the current preliminary feasibility system applying different standards between the metropolitan area and non-metropolitan areas, as well as between the central government and local governments.
They emphasized that if such fairness issues are not resolved, the imbalance in transportation infrastructure will worsen, ultimately leading to inconvenience for citizens.
The relevant autonomous districts related to the Wirye-Sinsa Line project, Gangnam-gu and Songpa-gu, strongly urged the government to make a reasonable decision for the prompt promotion of the Wirye-Sinsa Line.
The Council requested active cooperation from the Ministry of Economy and Finance to simplify unnecessary administrative procedures so that the long-awaited Wirye-Sinsa Line project can proceed swiftly for the citizens.
"Considering that residents of Wirye paid a contribution of 7 million KRW per household, totaling 310 billion KRW, for transportation environment improvement, and yet the project has been delayed for 17 years, no further delays should be allowed," emphasized a Council official.
The Seoul Metropolitan District Mayors' Council stated that it will continue to strive to enhance citizens' transportation convenience and will do its best to ensure the smooth promotion of the Wirye-Sinsa Line project through cooperation with Seoul City and the central government.
They hope that this project will progress quickly so that citizens can enjoy a better transportation environment.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
