Seongnam City’s Subway Line 8 Pangyo Extension Passes First Hurdle with Ministry of Land Investment Review Approval

Green Light for Seongnam City Line 8 Pangyo Extension
Economic Feasibility Proven with B/C Ratio of 1.03
Rising Expectations for Selection as MOEF Preliminary Feasibility Study Target
Mayor Shin Sangjin: "We Will Systematically Respond to R

The long-awaited "Subway Line 8 Pangyo Extension Project" in Seongnam City, Gyeonggi Province, has cleared its first hurdle, giving new momentum to the project's advancement.

Subway Line 8 Pangyo Extension Project Route Map. Provided by Seongnam City

On January 23, Seongnam City announced that it had officially received notification that the Subway Line 8 Pangyo Extension Project passed the review by the Investment Review Committee, which is overseen by the Ministry of Land, Infrastructure and Transport, held on January 22. With this approval, the project now faces only the final review for selection as a preliminary feasibility study target project by the Ministry of Economy and Finance.

During the review process, Seongnam City emphasized the necessity and urgency of the Subway Line 8 Pangyo Extension Project, focusing on the increase in transportation demand due to the development of the Second and Third Pangyo Technovalleys, the benefits of connecting to the metropolitan transportation network, and the need to link the urban railway network.

The Subway Line 8 Pangyo Extension Project aims to invest approximately 451.5 billion won to extend the current Moran Train Depot to Pangyo Station by about 3.78 kilometers. The project is being promoted to improve access to major business and industrial facilities such as Pangyo Technovalley and to enhance transportation conditions in the southern part of the Seoul metropolitan area.

Following this investment review approval, the Ministry of Economy and Finance will make the final decision on whether to select the project as a target for the preliminary feasibility study after deliberation by the Fiscal Project Evaluation Committee.

Previously, Seongnam City conducted a preliminary feasibility study to secure the project's viability, and the benefit-cost ratio (B/C) was analyzed to be 1.03, confirming its economic feasibility. This figure represents a 0.27-point improvement compared to the B/C of 0.76 when the preliminary feasibility study was withdrawn in 2023, reflecting comprehensive efforts to refine transportation demand forecasts and reduce project costs.

Seongnam City plans to respond proactively to ensure the project is finally selected as a target for the preliminary feasibility study. Once the Ministry of Economy and Finance confirms the selection, the project will proceed in stages, including the preliminary feasibility study, establishment of the basic plan, design, and construction. Seongnam City intends to carry out each step without delay.

Shin Sangjin, Mayor of Seongnam, stated, "Passing this investment review demonstrates that the necessity and rationale for the Subway Line 8 Pangyo Extension Project have been recognized at the government level," adding, "We will systematically respond to the remaining procedures and do our utmost to ensure the project proceeds as planned."