Hyosung Heavy Industries Consortium Selected as Preferred Bidder for Seongnam-Seocho Expressway Project

The Ministry of Land, Infrastructure and Transport announced today (June 22) that the Hyosung Heavy Industries consortium has been selected as the preferred bidder for the private investment project to construct the Seongnam-Seocho Expressway.

The project involves building a new 10.7-kilometer, four-lane expressway connecting the area near Pangyo in Seongnam, Gyeonggi Province, to the Umyeonsan Tunnel in Seocho-gu, Seoul.

The estimated project cost is approximately 561.2 billion won.

Once the expressway opens, it is expected to significantly improve traffic flow for vehicles traveling from the southern metropolitan area to the southwestern part of Seoul by dispersing traffic from the congested Yangjae Interchange (IC).

The Ministry of Land, Infrastructure and Transport and the Hyosung Heavy Industries consortium plan to begin detailed negotiations, with the goal of starting construction in 2029 and opening the road in 2034.

Kim Hyo-jeong, Director General of the Road Bureau at the Ministry, stated, "This project will alleviate chronic congestion around the Yangjae Interchange, reducing travel time for the public and improving road convenience," adding, "It will also enhance the arterial function of the Gyeongbu Expressway."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.