Traffic volume on Cheongna Haneul Bridge, the third bridge connecting the mainland to Yeongjong International City, home to Incheon International Airport, has surpassed 10 million vehicles just eight months after its opening.

Having opened on January 5, traffic on Cheongna Haneul Bridge surpassed 10 million vehicles on September 18, reaching a total of 10.6 million vehicles by the end of last month.

Among them, traffic from Incheon residents, who are exempt from tolls, stood at 5.9 million vehicles, while traffic from non-Incheon residents was recorded at 4.7 million vehicles.

Traffic on Cheongna Haneul Bridge stood at around 950,000 vehicles in January, its opening month, but has steadily increased since then, reaching approximately 1.37 million vehicles last month.

As traffic on Cheongna Haneul Bridge increases, concerns are also growing over the potential rise in compensation for losses to be paid to the operators of existing bridges connecting to Yeongjong Island.

Under an agreement regarding loss compensation signed with the Ministry of Land, Infrastructure and Transport in December 2020, Incheon City is in a position where it must cover compensation for losses resulting from decreased toll revenues for the existing Yeongjong Bridge and Incheon Bridge following the opening of Cheongna Haneul Bridge.

There is a high possibility that the operators of the existing bridges will claim excessive compensation for losses, citing reduced revenues due to the increase in traffic on Cheongna Haneul Bridge.

In fact, Shinseonghwayway (New Airport Highway Co.), the operator of the Incheon International Airport Expressway, filed a lawsuit seeking approximately 29.2 billion won in loss compensation against the Ministry of Land, Infrastructure and Transport and Incheon City at the Seoul Administrative Court last month.

It was learned that the lawsuit was filed with the intent that compensation for losses and delayed interest amounting to 12.95 billion won for the first quarter of this year and 16.28 billion won for the second quarter must be paid.

Based on a related agreement signed in 2017, the Incheon Free Economic Zone Authority (IFEZA) maintains the stance that loss compensation can be paid only if 30 percent or more of the traffic from existing bridges has shifted to Cheongna Haneul Bridge.

The Incheon Free Economic Zone Authority stated that it will actively respond to the lawsuit and minimize the compensation for losses.

(Photo: Yonhap News)