nature of the investment
MKIF has committed to provide a subordinated loan of KRW 80 billion to the Project concession company (Kyunggi Highway Co., Ltd.), which represents 64% of the total subordinated loan facility of KRW 125 billion. MKIF’s investment is 20 year, fixed rate subordinated loan and MKIF will have pre-emptive rights over the Project’s equity in future ranking after existing investors.
Length: 38.5 km
Capacity: 2-3 lanes both ways
Toll rate: Levied by distance travelled and vehicle class
Maximum KRW2,400, Minimum KRW1,000 - small vehicles (real as at September 1, 2002)
Government authority: Ministry of Land, Transport and Maritime Affairs
Concession term: 30 years
Guarantee duration: 15 years
Concession term commencement: Under construction. Operation commencement in October 2009
