An alternative route, alleviating traffic congestion in Suwon to Seoul section of the Seoul-Busan Highway
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.
MKIF has invested in Gyungsu Highway Co., Ltd. (“Gyungsu”), the concessionaire of Yongin-Seoul Expressway, in the form of equity and subordinated loan. As of the record date, MKIF has 43.75% of equity interest in Gyungsu, and MKIF’s total investment amount is KRW 151.1 billion, which is comprised of equity of KRW 51.5 billion and subordinated loan of KRW 99.6 billion.
|Government authority:||Ministry of Land, Infrastructure and Transport|
|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|
* No revenue guarantee applies if actual revenue is below 50% of the annual concession agreement projected revenue
|Capacity:||Dual two to three-lane in both directions|