The Bundang Line extension project (Giheung Station-Dongtan 2-Osan University Station) being promoted by Yongin Special City has entered the preliminary stage for the Ministry of Strategy and Finance’s preliminary feasibility study. In a situation where the economic feasibility of the Bundang Line extension has been greatly enhanced as it coincides with large-scale development projects such as the development of the Yongin Idong and Namsa-eup semiconductor national industrial complex and the semiconductor-specialized new city, discussions are in full swing to pass the deliberation procedures of the Ministry of Strategy and Finance.
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[Korean Today] Panoramic view of Yongin Special City Hall © Reporter Na-yeon Kim |
Yongin Special City (Mayor Lee Sang-il) announced on the 23rd that the Korea Railroad Corporation completed the preliminary feasibility study on the Bundang Line extension project (Giheung Station-Dongtan 2-Osan University Station, 16.9 km), and the Ministry of Land, Infrastructure and Transport recently applied to the Ministry of Strategy and Finance for review of the preliminary feasibility study.
The Korea Railroad Corporation began the preliminary feasibility study service in November 2022, and extended the service period to the end of this year to supplement economic feasibility due to increased project costs caused by rising prices. Based on the results of this service, the Ministry of Land, Infrastructure and Transport is preparing for the deliberation process of the Ministry of Strategy and Finance’s Financial Project Evaluation Committee.
The Bundang Line extension project connects Giheung Station to Dongtan 2 and Osan University Station, a total of 16.9km, and is becoming more economically feasible in conjunction with large-scale development projects such as the Yongin Idong-Namsa-eup Advanced System Semiconductor National Industrial Complex, the Idong-eup Semiconductor Specialized New Town, and the Samsung Electronics Giheung Campus Future Research Complex. During the preliminary feasibility study period, Yongin Special City continuously visited the Ministry of Land, Infrastructure and Transport and the Korea Railroad Corporation to explain the necessity of the project and requested active cooperation.
Mayor Lee Sang-il said, “As a result of the city’s multi-faceted efforts to improve transportation convenience for Giheung-gu citizens and ease traffic congestion around the Korean Folk Village in Bora-dong, the Bundang Line extension project has reached the preliminary feasibility study stage,” adding, “We will continue to consult with related organizations, such as the Ministry of Land, Infrastructure and Transport and the Ministry of Strategy and Finance, to realize this project.”
This market is especially “highly economically feasible development projects in Yongin, such as the creation of a semiconductor national industrial complex and a new semiconductor-specialized city, the creation of Samsung Electronics’ 20 trillion won Giheung Campus Research Complex, and the establishment of the Yongin Campus headquarters of global semiconductor equipment company Lam Research, are increasing the feasibility of extending the Bundang Line,” he emphasized, “Citizens of not only Yongin but also Hwaseong and Osan will be able to greatly enjoy transportation convenience through this project.”
The Ministry of Strategy and Finance is expected to decide whether to submit the preliminary feasibility study agenda to the Financial Business Evaluation Committee in January next year. Yongin Special City plans to continue to cooperate with related local governments such as Gyeonggi Province, Hwaseong City, and Osan City to pass the preliminary feasibility study.
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