Major tunnel connecting Busan port to the central business district of Busan, the second largest city in Korea
Soojungsan Tunnel is a 2.3 km, dual two-lane tolled tunnel located in Busan, serving as an important connection from Busan central business district to Busan port and the northwestern residential region, including Gimhae International Airport. Construction of Soojungsan Tunnel commenced in May 1997 and was completed in December 2001.
MKIF has invested in Soojungsan Investment Co., Ltd. (“SICL”), the concessionaire of Soojungsan Tunnel, in the form of equity, senior loan and subordinated loan. As of the record date, MKIF is a 100.0% shareholder of SICL, and MKIF’s total investment amount is KRW 55.5 billion, which is comprised of equity of KRW 47.1 billion, senior loan of KRW 3.5 billion, and subordinated loan of KRW 4.9 billion.
|Government authority:||Busan Metropolitan City|
|Concession term:||25 years|
|Guarantee duration:||25 years|
|Concession term commencement:||April 2002|
|Minimum Guarantee*:||90% of annual CA projected revenue|
|Revenue Cap:||110% of annual CA projected revenue|
* For toll revenue below 90%, Busan Metropolitan City is obligated to compensate 91.5% of the shortfall amount
|Capacity:||Dual two-lane in both directions|