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[BUSINESS] · South Korea · 3 sources

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Incheon GTX-B Cheonghak Station project passes central investment review

The construction of a new Cheonghak Station on the GTX-B metropolitan express railway line has received conditional approval from the Ministry of the Interior and Safety's central investment review. The project aims to improve transportation access for residents in the Yeonsu-gu area, specifically addressing the 10km non-stop section between Incheon Grand University Station and Incheon City Hall Station.

Incheon Metropolitan City will bear the full project cost, estimated between 254 billion and 269.4 billion KRW. The construction phase is planned to run from 2027 to 2033, with a target opening date in early 2034. This follows the scheduled August 2031 opening of the main GTX-B line.

The Ministry's conditional approval requires Incheon to establish measures to minimize resident inconvenience and prepare plans to improve economic and financial feasibility. Additionally, the city must undergo a preliminary review before entering into an operating agreement with the railway operator to prevent potential financial liabilities for the city after the private operator's term ends.

Entities

Cheonghak Station · GTX-B · Incheon Metropolitan City · Ministry of the Interior and Safety · Park Chan-dae

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