Shinhan Bank Arranges 580.8 Billion Won in Financing for Isu Gwacheon Complex Tunnel Project

Shinhan Bank announced on September 2 that it has completed financial arrangements totaling 580.8 billion won for the Isu Gwacheon Complex Tunnel Private Investment Project and held a financial agreement ceremony with the project operator and the lead construction company.

Jungwoo Lee, Head of Shinhan Bank CIB Group (left), and other stakeholders of the Isu Gwacheon Complex Tunnel Private Investment Project are signing a financial agreement and taking a commemorative photo. Photo by Shinhan Bank

This project involves building a complex infrastructure facility that combines a road tunnel to bypass areas of chronic urban congestion underground with a rainwater tunnel designed to store and drain water during heavy rainfall. The plan is to construct a four-lane, 5.61-kilometer-long road tunnel stretching from the Isu Intersection in Dongjak-dong, Dongjak-gu, Seoul, to Gwacheon-daero in Gwacheon, Gyeonggi Province, along with a rainwater drainage tunnel with a capacity of 424,000 cubic meters.

Shinhan Bank served as the lead financial arranger, while Lotte Engineering & Construction acted as the lead construction company.

The project is scheduled to begin preparations for construction after approval of the implementation plan in the second half of this year. Once completed, it is expected to ease traffic congestion on Dongjak-daero, reduce flood damage, and enhance both safety and convenience for citizens.

Jungwoo Lee, Head of the CIB Group, stated, "We will continue to fulfill our financial role to ensure that essential social infrastructure projects for the local community proceed without delay."