Pledges or Empty Promises?...A Flood of SOC Campaign Promises for the Presidential Election

Political Circles Race to Pledge Long-Awaited Regional Projects Nationwide... Gadeokdo New Airport 'Stalled'
Nationwide GTX Competition Heats Up; Industry Pushes for "Budget Expansion"
Local Governments Go All-In, Viewing This Presidential Election as the Last Chance for Regional SOC Projects

As the upcoming presidential election approaches, social overhead capital (SOC) projects are swaying voter sentiment nationwide. Major presidential candidates are competitively including long-awaited regional projects in their pledges, putting forth large-scale initiatives such as the GTX (Great Train Express), new airports, and underground expressways. Local governments are fiercely working behind the scenes to have their projects reflected in campaign pledges, and the industry is actively demanding budget increases. As a result, SOC has once again emerged as a key election keyword.

Gadeokdo New Airport Faces 'Cancellation Crisis'...Reignited as a Political Issue

Perspective view of Gadeokdo New Airport. Ministry of Land, Infrastructure and Transport.

The Gadeokdo New Airport project has effectively entered a phase where the planned 2029 opening is unlikely, after the preferred bidder, the Hyundai Engineering & Construction consortium, recently stated that the construction period should be extended to nine years. The Ministry of Land, Infrastructure and Transport is insisting on the original schedule of completion within seven years, warning that it will reissue the tender if the design is not revised. However, experts believe there is a high possibility that the project will stall in practice.

The political sphere is responding quickly. The Democratic Party of Korea has raised the issue of responsibility with the Yoon Suk-yeol administration and the Ministry of Land, Infrastructure and Transport, announcing plans to form a fact-finding committee. This project, which already shows traces of being rushed ahead of the election through measures such as exemption from preliminary feasibility studies and shortened construction deadlines, is highly likely to become a major issue again during the presidential campaign.

Nationwide GTX Competition...Kim Moonsoo and Lee Jaemyung Present Competing High-Speed Rail Pledges

Both party candidates competitively presented GTX pledges. The photo shows the GTX-A boarding guide sign at Seoul Station. Photo by Yonhap News.

The core of transportation pledges, the Metropolitan Express Railway (GTX), is riding a wave of nationwide expansion. People Power Party candidate Kim Moonsoo has proposed new routes, including the Daegu-Gyeongbuk section, pledging to connect the five major metropolitan areas nationwide via GTX. He plans to pursue the project through a combination of private and government funding. Kim has actively promoted the GTX pledge, stating, "GTX was the national transportation innovation project that I first designed and pushed forward."

Democratic Party candidate Lee Jaemyung also stated in April that he would "expand GTX not only throughout the Seoul metropolitan area but also to Chungcheong, TK, and Gangwon, creating a one-hour economic zone." He aims to increase the feasibility of this plan by expanding government funding and revising relevant laws and systems. Having previously pledged the GTX D, E, and F lines during the 2022 presidential election, he has recently reiterated his commitment to extending specific routes.

Some observers have pointed out that "even GTX-A initially faced issues with insufficient demand, and the risks are even greater in regions outside the Seoul metropolitan area." A transportation industry official commented, "GTX projects not linked to urban development have little chance of being realized, and if regions across the country all compete for GTX, it could simply increase the fiscal burden."

The Construction Industry and Local Governments: 'This Is the Last Opportunity'

The construction industry is also raising its voice amid the political competition over SOC. The Korea Construction Association recently submitted an official proposal to the Democratic Party of Korea, stating that the 2025 SOC budget should be increased to at least 28 trillion won. Local governments across the country likewise see this presidential election as the last chance to have their regional SOC projects included in campaign pledges. Incheon is proposing the undergrounding of the Gyeongin Line, GTX extension, and expansion of the Incheon Free Economic Zone. Daejeon is suggesting the undergrounding of the Honam Expressway and administrative integration. North Chungcheong Province is proposing the early implementation of the Cheongju International Airport runway and CTX. Busan has put forward the relocation of the Korea Development Bank headquarters, the establishment of a maritime court, and the second-phase expansion of Gadeokdo New Airport. Ulsan is demanding the enactment of a special law for the Garden Expo. Gangwon Province is proposing the third revision of the Gangwon Special Act and the establishment of a duty-free shop for domestic travelers.

Although SOC pledges are a recurring "regular menu" during every election season, their feasibility is always called into question. Many pledges include unrealistic conditions such as exemption from preliminary feasibility studies and shortened construction periods, and there are frequent cases where projects are scrapped during implementation. The Gadeokdo New Airport, the relocation of the Sejong government complex, and the expansion of metropolitan railways are representative examples. This is why there is constant criticism that "SOC is key to balanced regional development, but infrastructure projects without a demand base only increase the fiscal burden."