South Korea Approves 5 Road Projects to Boost Semiconductor Belt

South Korea has taken a significant step towards bolstering its semiconductor industry by approving five major road network projects. These initiatives are designed to create a robust transportation infrastructure connecting the burgeoning semiconductor complexes located in Yongin, Anseong, and Pyeongtaek in Gyeonggi Province.

The preliminary feasibility studies for these seven road network projects, crucial for the semiconductor industry, have been successfully passed by the 7th Fiscal Investment Review Committee of the Ministry of Economy and Finance. This approval signifies that the projects are deemed viable for national fiscal investment, clearing the path for subsequent stages such as establishing basic plans, design, and securing necessary budgets and permits.

The approved projects include key routes such as the Yongin Cheoin Wonsam-Mapyeong (National Route 57), Pyeongtaek Osung-Godeok (National Route 38), Asan Dunpo-Pyeongtaek Paengseong Namsan (National Route 45), Anseong Gongdo Bypass (National Route 38), and Anseong Daedeok-Yongin Namsa (National Route 23). These routes are considered vital arteries for the southern Gyeonggi Province's semiconductor cluster.

In addition to these southern routes, two projects aimed at improving transportation in northern Gyeonggi Province were also approved: Namyangju Wabu-Hwado II (National Route 86) and Gimpo Gochon Punggok-Punggok (National Route 48). The total length of these approved projects spans 48.9 kilometers with an estimated cost of 1.4689 trillion won.

Governor Choo Mi-ae of Gyeonggi Province emphasized the importance of these road networks, stating, "With the approval of these preliminary feasibility studies, core road networks that will support the competitiveness of the semiconductor industrial belt have been secured. We will do our best to ensure their final inclusion in the national plan and the swift progress of subsequent procedures." The province plans to strengthen consultations with relevant authorities, including the Ministry of Land, Infrastructure and Transport, to ensure these projects are finalized in the government's 6th National Route and National Road Plan.

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With the approval of these preliminary feasibility studies, core road networks that will support the competitiveness of the semiconductor industrial belt have been secured. We will do our best to ensure their final inclusion in the national plan and the swift progress of subsequent procedures.