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nature of the asset

Gwangju Second Beltway, Section 1 is a 5.6 km, dual three-lane city expressway consisting of four tunnels and ten bridges, running from the Gwangju Dooam Interchange to the Sotae Interchange outside the city of Gwangju, with tolling at two separate locations. In response to the expansion and development of industrial areas around Gwangju, construction of the Gwangju Second Beltway commenced in 1997 to ease traffic congestion on the Gwangju First Beltway and to provide better links to the surrounding cities. Construction of Gwangju Section 1 began in June 1997 and was completed in December 2000.

nature of the investment
MKIF has invested into Kwangju Beltway Investment Co., Ltd. (KBICL), the concessionaire of Gwangju Second Beltway, Section 1, in the form of equity, senior loans, subordinated loans and a working capital facility. MKIF is a 100.0% shareholder of KBICL, and has committed to provide senior loans of KRW142.0 billion, subordinated loans of KRW32.0 billion, and a working capital facility of KRW3.26 billion. MKIF's total investment in KBICL is KRW190.3 billion.
facilities
Length: 5.6 km
Capacity: 6 lanes in both directions
Toll rate: KRW 1,000 - small vehicles
concession agreement
Government authority: Gwangju City Government
Concession term: 28 years (21 years remaining)
Guarantee duration: 28 years
Concession term commencement: January 2001

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