GTX-C Construction Moves Closer as Revised Implementation Agreement Passes Review

[Financial News] The revised implementation agreement for Great Train eXpress Line C (GTX-C) has passed the Private Investment Project Review Committee, moving the project one step closer to full-scale construction in the second half of the year.
According to the Ministry of Land, Infrastructure and Transport on the 25th, the revised implementation agreement for the GTX-C private investment project passed the committee's review that day. The revision reflects changed project conditions, including an arbitration ruling by the Korean Commercial Arbitration Board in April that allowed part of the total project cost to be increased.
With the review completed, the administrative procedures needed to begin construction have been finalized. Actual groundbreaking will be possible only after the remaining contract steps are completed. Based on the revised agreement, the project operator will sign a construction contract with the builder and finalize financing agreements with investors. It will then submit a construction notice to MOLIT before starting full-scale work.
MOLIT said it will continue working with the project operator to ensure the remaining procedures proceed without disruption. The ministry plans to announce the schedule once the timing for full-scale construction becomes clearer.

[email protected] Jang In-seo Reporter