The project for the urban railway 'Wirye-Sinsa Line,' which connects Sinsa Station on Line 3 past Samsung Station in Wirye New Town, has been selected as a subject for the preliminary feasibility study.
On the 30th, the Ministry of Economy and Finance held the '2025 4th Financial Project Evaluation Committee' chaired by Deputy Minister Kim Yoon-sang and selected five projects as subjects for the preliminary feasibility study.
The projects selected as subjects for the preliminary feasibility study this time are ▲ Wirye-Sinsa Line urban railway ▲ Incheon Line 1 Songdo District 8 extension ▲ construction of Pocheon-Cheorwon Expressway ▲ construction of the Jangbongdo-Modo bridge ▲ Jangheung Dam-Juan Dam water pipeline linkage project.
The extension of Incheon Line 1 to Songdo District 8 is a project aimed at alleviating traffic congestion caused by the influx of residents into the large-scale housing development by connecting the newly developed area (Songdo District 8) with Incheon Line 1.
The construction of the Pocheon-Cheorwon Expressway is a project that aims to improve accessibility in the border area and expand the living impact zone by consolidating the Guri-Pocheon Expressway up to 24 km near the border area of Cheorwon County in Gangwon Province.
The construction of the Jangbongdo-Modo bridge involves the establishment of a new two-lane road, 1.8 km in length, between Jangbongdo and Modo in Ongjin County, Incheon. There are expectations that it will contribute to improving the living conditions of residents in the border area.
The Jangheung Dam-Juan Dam water pipeline linkage project aims to supply the excess water from Jangheung Dam for domestic and industrial use to the Juan Dam system's extensive water supply in preparation for future drought crises.
During the meeting, three projects passed the preliminary feasibility study, including ▲ the construction of the future-oriented New Smart Hospital at Chonnam National University Hospital ▲ the expansion of the road in the central region of Jeju (two cases). A Ministry of Economy and Finance official noted, 'Projects that have secured feasibility will undergo related procedures promptly by the relevant ministry.'
During this meeting, improvement measures for the local extinction response fund project were also suggested. The local extinction response fund, introduced in 2022, aims to invest 1 trillion won annually over the next 10 years to promote projects aimed at responding to local extinction led by the regions.
Participants analyzed that the short operating period of the fund has shown no significant effects, such as population growth, yet. Additionally, there were calls for institutional improvements, such as a revision of the distribution system to induce the efforts of local governments to enhance performance.
A Ministry of Economy and Finance official reported, 'Considering that it will be operated temporarily for 10 years, it has been pointed out that various measures for responding to local extinction should be sought, such as expanding the special account for regional balanced development and utilizing investment funds.’