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MKIFThe leading infrastructure fund in Korea

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MKIF» MKIF assets» Yongin-Seoul Expressway

MKIF assets

Yongin-Seoul Expressway

An alternative route, alleviating traffic congestion in Suwon to Seoul section of the Seoul-Busan Highway

Nature of the asset
Nature of the investment

Nature of the asset

The Yongin-Seoul Expressway is a 22.9 km, dual two to three-lane tolled expressway consisting of six bridges, 10 tunnels and seven interchanges connecting Youngduck-ri, Yongin City to Segok-dong in Seoul. Yongin-Seoul Expressway eases traffic congestion problem in Suwon-Seoul section of the Seoul-Busan Highway, one of the most heavily travelled expressway. Construction began in October 2005 and was successfully completed on time in June 2009.

Nature of the investment

MKIF has invested in Gyungsu Highway Co., Ltd. (Gyungsu), the concessionaire of Yongin-Seoul Expressway in the form of equity and subordinated loans. MKIF currently has 35% of equity interest (KRW 57.8 billion) and 58% of the subordinated loan (KRW77.0 billion). The MKIF’s total investment to the project is KRW134.8 billion.

Concession agreement

Concession agreement
Government authority:	Ministry of Land, Transport and Maritime Affairs
Concession term:	30 years
Guarantee duration:	10 years
Concession term commencement:	July 2009
Minimum Guarantee*:	70% of annual CA projected revenue
Revenue Cap:	130% of annual CA projected revenue

* Subject to actual toll revenues being no less than 50% of the revenue forecast.

Facilities

Facilities
Length:	22.9 km
Capacity:	Dual two to three-lane in both directions
Toll rate:	KRW 2,900 – Small vehicles

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