Seoul-Chuncheon Expressway


An alternative link from Seoul to the East Coast area of Korea, relieving the heavy traffic congestion in east Seoul and providing a direct route to Chuncheon, the Gangwon Province area

Asset overview

Seoul-Chuncheon Expressway is a 61.4 km, dual two to three-lane toll expressway providing a link between Seoul and Gangwon Province, known as a capital of tourism in Korea. The expressway provides an alternative link between the east part of Seoul and Chuncheon through Kyunggi province, where the regional expressways and highways experience heavy congestion, especially on weekends. Construction began in August 2004, and was successfully completed in July 2009.

Investment details

MKIF has invested in Seoul-Chuncheon Highway Co., Ltd. (SCH), the concessionaire of Seoul-Chuncheon Highway, in the form of equity and subordinated loans. As of the record date, MKIF has 15.83% equity interest in SCH, and MKIF’s total investment amount is KRW 162.3 billion, which is comprised of equity of KRW 0.6 billion and subordinated loans of KRW 161.7 billion.

Concession agreement

Concession agreement
Government authority: Ministry of Land, Infrastructure and Transport
Concession term: 30 years
Guarantee duration: 15 years
Concession term commencement: July 2009
Minimum Guarantee*: 70%, 60% of annual CA projected revenue
Revenue Cap*: 130%, 140% of annual CA projected revenue

* To change over a 5-year period
* No revenue guarantee applies if actual revenue is below 50% of the annual concession agreement projected revenue
* 70% / 130% until August 2019, and 60% / 140% from thereon to 2024


Length: 61.4 km
Capacity: Dual two to three-lane in both directions