Shortcut to Body Shortcut to main menu

News & Event

  • Home
  • News
  • News & Event
Daegu to Invest KRW 124.5 Bn in Road Construction Projects

(DAEGU = Newsis) The city of Daegu announced on January 6 that it will invest a total of KRW 124.5 billion in the road construction project in a bid to vitalize the local economy and construct safer road network.

The city will mainly focus on the construction of the Daegu Ring Expressway that connects the city with its suburban area and entry ramp to the industrial complexes as well as the maintenance of the roads that are chronically congested.

The construction of the Daegu Ring Expressway will commence in the first half of this year, and is expected to build a new stretch of highway with a total length of 34.5km by 2019.

The city secured a total of KRW 67.4 billion for the project by negotiating with local lawmakers and the government.

The opening of the Daegu Ring Expressway is expected to reduce the logistical costs and increase the industrial competitiveness by connecting the city’s west and south regions with downtown area.

Daegu also step up its efforts to improve the business environment of its industrial complexes.

The city will construct a four-lane highway with a length of 13km between Daegu arboretum and Technopolis, two main driving force of the local economy’s development. The highway will allow drivers to travel between downtown area and Technopolis in less than 10 minutes.

The city will invest KRW 79.8 billion in order to complete the construction project, and plans to open the highway at the end of the year.

In order to improve accessibility to Dalseong 1st Industrial Complex, Daegu will expand the road between Gimheung IC and the complex and establish the compensation plan.

A total of KRW 13.2 billion will be invested by the government in the project to expand the entry road to the Daegu National Science Industrial Complex of 2.1km. The construction will be completed in 2016.

The city also plans construct a main road that connects Sincheondong-ro, Daegu Distribution Complex and Esiapolis in a bid to resolve the traffic congestion and reduce logistical costs.

It will work closely with the relevant government authorities to secure the budget and receive more supports.

A total of KRW 4 billion will be invested to expand the width of the inter-city road between Daelim pedestrian overpass and Gyeongsan-Sigae of 25m to 35m.

Meanwhile, the city will also push ahead other four new projects and 12 continued projects.

“We need to allocate considerable amount of money to these projects, so we will minimize investment on other projects and work hard to develop a safer and more convenient road network,” said Mayor of Daegu Kim Beom-Il.

Source Text

Source: Newsis (Jan. 6, 2014)

** This article was translated from the Korean.