Hwaseong-Anseong Private Expressway Passes Private Investment Feasibility Review; Construction Could Begin as Early as 2030

[Financial News] The Ministry of Land, Infrastructure and Transport (MOLIT) announced on the 24th that the Hwaseong-Anseong Private Expressway has passed the private investment feasibility review conducted by the Public and Private Infrastructure Investment Management Center (PIMAC) of the Korea Development Institute.
This project involves constructing an expressway of approximately 45 kilometers, connecting Yanggam-myeon in Hwaseong, Gyeonggi Province, to Iljuk-myeon in Anseong-si, Gyeonggi-do. It was proposed to MOLIT as a private investment project in May 2023.
The planned route will run parallel to the Yeongdong Expressway (East-West Axis 6) and the Pyeongtaek–Jecheon Expressway (East-West Axis 7), serving as an additional east-west expressway. It is expected to complement the existing national arterial road network and help alleviate traffic congestion in the surrounding areas.
Furthermore, by improving mobility and accessibility in the southern metropolitan area, the project is anticipated to boost the local economy. In particular, it is expected to effectively accommodate future traffic demand arising from large-scale development plans, including the Yongin Semiconductor Cluster.
With the project having passed the private investment feasibility review, MOLIT plans to promptly proceed with subsequent steps such as the strategic environmental impact assessment. Following third-party announcements, negotiations, and design, construction could begin as early as 2030.
act@fnnews.com Choi Ah-young Reporter