Lee Sangil: "Improved Transportation Convenience for Citizens... Local Economic Revitalization Expected"
The city of Yongin in Gyeonggi Province has announced that the "Dongyongin IC" project, which is being pursued for the Yongin section of the Sejong-Pocheon Expressway, has passed the feasibility evaluation by the Ministry of Land, Infrastructure and Transport.
According to Yongin City on June 12, the economic analysis from the ministry's evaluation showed a benefit-cost ratio (B/C) of 1.04. A B/C value above 1 indicates that the benefits outweigh the costs. Previously, in the adequacy review conducted by Korea Expressway Corporation in December 2023, the project also recorded a B/C value of 1.13, exceeding 1.
Location map of the planned Dongyongin IC to be newly established on Sejong-Pocheon Expressway. Provided by Yongin City
The feasibility evaluation by the Ministry of Land, Infrastructure and Transport is conducted under the "National Integrated Transportation System Efficiency Act" for public transportation facility development projects with a total project cost of 30 billion won or more.
The city has designated Songmun and Jubuk-ri in Yangji-myeon, Cheoin-gu as the planned location for Dongyongin IC. The total estimated project cost is 9.33 billion won. The project cost is to be borne by Yongin Joongsim Co., Ltd., the developer of the "International Logistics 4.0 Logistics Complex."
The city explained that it passed the feasibility evaluation this time by comprehensively supplementing and submitting socioeconomic indicators, development plans, traffic impact analysis, safety facility standards, and cost-benefit analysis during the evaluation process.
Once the IC is established, it will not only provide access to and from the expressway via the urban planning road (Jungno 1-1) connected to National Route 42, but will also directly link to the logistics complex access road. The city especially plans to actively expand infrastructure in this area to attract advanced industry companies, such as those in the semiconductor sector.
Lee Sangil, Mayor of Yongin, stated, "Once Dongyongin IC is installed, the transportation convenience enjoyed by Yongin citizens will be greatly enhanced," and added, "Accessibility to Idong Public Housing District, Idong-Namsa Advanced System Semiconductor National Industrial Complex, and the International Logistics Complex will also improve, which is expected to significantly contribute to revitalizing the local economy."
Following the successful feasibility evaluation, the city plans to complete related licensing procedures within this year, conclude an agreement with Korea Expressway Corporation next year, and begin construction in 2028.
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