Incheon New Port Access Road Project to Begin Construction in 2027
Desk
korocamia@naver.com | 2024-12-13 11:30:27
Incheon, South Korea – The Incheon Free Economic Zone Authority announced on December 12th that the Incheon New Port Access Road construction project has passed the central investment review by the Ministry of the Interior and Safety.
This 296.2 billion won project involves the construction of a 5.29-kilometer underground road connecting Incheon New Port Road and Hogupo Road. The project, which has passed both the preliminary feasibility study in July and the central investment review, is now set to commence design in 2025, construction in 2027, and completion in 2029.
Previously, the project faced difficulties due to separate planning for the underground and elevated sections, which raised concerns about economic feasibility. To address these issues, the project was consolidated into a single development, optimizing traffic efficiency and economic benefits.
The underground section of the access road will be exclusively for cargo trucks, while the above-ground section will be for general vehicles. This separation will significantly reduce the risk of accidents involving large trucks and improve the living environment by minimizing noise, vibration, and dust.
"The Incheon New Port Access Road will enhance accessibility to the port, opening up new avenues for domestic and international trade," said Yoon Won-seok, head of the Incheon Free Economic Zone Authority. "With the successful completion of the preliminary feasibility study and local government investment review, we will proceed with the project as quickly as possible."
WEEKLY HOT
- 1S. Korean Won Breaches 1,480 per Dollar Amid Foreign Sell-off; Authorities Activate FX Swaps
- 2Hanmi Pharm Files for Domestic Approval of Breakthrough Obesity Treatment 'Efpeglenatide'
- 3Kyungdong Navien to Acquire Smart Home Pioneer Commax for 32.8 Billion Won
- 4Doosan Group Chosen as Preferred Bidder for SK Siltron in Multi-Billion Dollar Deal
- 5Even Elite "Collective Intelligence" Fails: Seoul National University Students Miss the Mark on Exchange Rate Forecasts
- 6The Ambassador’s Cup Taekwondo Championship Returns to Bulgaria, Celebrating Martial Arts and Diplomacy