Rail project that connects Wangsimni of Seongdong-gu and Sanggye of Nowon-gu in northeast Seoul
Dongbuk LRT is a 13.4km-long underground light rail transit system that connects Wangsimni of Seongdong-gu and Sanggye of Nowon-gu in northeast Seoul. The expected construction period is January 2020 to December 2024, followed accordingly by the operation period from January 2025 to December 2054. Upon operation, Dongbuk LRT is expected to offer a competitive means of transportation along its route in terms of travel time and cost, attracting some of the commuting drivers and passengers who use the existing public transportations in the region. In addition, the rail would provide users an access to and from 3 main business districts of Seoul (Central Business District, Yeouido Business District and Gangnam Business District) via its 7 transfer stations that connect to 9 other metro systems in Seoul.
MKIF committed to invest in Dongbuk LRT Co., Ltd, the concessionaire of Dongbuk Light Rail Transit Project, in the form of equity and subordinated loan. The size of MKIF’s investment commitment is KRW 82.7 billion, which is comprised of equity interest of KRW 35.4 billion and subordinated loan of KRW 47.3 billion. MKIF’s shareholding in Dongbuk LRT Co., Ltd. will be 30% upon full deployment of the committed amount.
|Government authority:||Seoul Metropolitan City|
|Concession term:||30 years|
|Concession term commencement:||January 2025 (expected)|
|Track Length:||13.4 km|
|No. of stations:||16 stations|
|No. of trains:||25 trains|