Table of Contents
Economic Analysis Results of Busan Direction Sasong Hi-Pass IC Announced
Yangsan City has officially launched the installation project for the Sasong Hi-Pass IC to strengthen the transportation infrastructure of the Sasong New City. During a recent resident briefing held on August 26, the feasibility study results for the Busan Direction IC were disclosed, along with the promotion plans for the Seoul Direction. This is expected to greatly enhance the transportation convenience for local residents.
The IC towards Busan is designed to enter the highway near Geumsong Elementary and Middle School. Conversely, when traveling from Busan to Sasong New City, it connects to the self-sufficient facilities area. According to recent service results, the estimated cost required for this project is approximately 16.45 billion won, with an economic analysis (B/C) value of 1.71.
Specifically, the demand analysis shows that 78.2% of usage comes from within the Sasong area, while external usage accounts for 21.8%. This indicates that an environment will be created for residents of the new city to move more conveniently. Thus, it is expected that the quality of life for local residents will be significantly improved.
Yangsan City will bear approximately 3.59 billion won of the total project cost in accordance with the adjustment of the metropolitan transportation committee, and LH (Korea Land & Housing Corporation) has decided to share 12.86 billion won. They plan to swiftly carry out necessary procedures such as submitting the feasibility report to the road construction corporation starting in September, obtaining road connection permits, signing agreements, and preparing detailed designs.
However, during the resident briefing, residents living near Geumsong Elementary and Middle School expressed concerns about traffic congestion and student safety, stating that supplementary measures are necessary. These voices from residents are likely to play an important role in future project implementation.
Seoul Direction Hi-Pass IC, Immediate Start of Service with September Supplementary Budget
Yangsan City originally planned to proceed with the Busan direction project first, while the plans for the Seoul direction were to be included in the 2026 main budget for feasibility studies. However, during a recent resident briefing, the Yangsan Mayor expressed his commitment to "not missing the golden time" and shared new developments.
In September, the second supplementary budget will include 100 million won for the feasibility study of the Seoul direction to commence immediately. This feasibility study will include location reviews, traffic volume analysis, and economic analysis (B/C), with results expected to be released around June next year.
Yangsan City is also considering a plan to swiftly proceed with subsequent administrative procedures and simultaneously commence construction along with the Busan direction IC. This change is expected to be a crucial turning point in improving the transportation network of Yangsan City.
Sasong New City Traffic Network Becomes Denser with Two-way IC
Sasong New City is witnessing an acceleration in population inflow and residential density. Therefore, the expansion of transportation infrastructure is now critically needed. A Hi-Pass IC is set to be installed toward Busan, and if efforts towards Seoul direction are made simultaneously, the accessibility of the Yangsan Sasong New City to the metropolitan transportation will be greatly enhanced.
Yangsan City is collaborating with the Korea Land and Housing Corporation (LH), the Road Corporation, and the Ministry of Land, Infrastructure and Transport to explore methods for reducing project costs and securing government funding. Additionally, they are working hard to address residents' concerns about safety and traffic congestion. Many people are focusing on whether Sasong New City can establish itself as a transportation hub in the Busan-Ulsan-Gyeongnam area through these processes.
#YangsanSasongHiPassIC, #SasongNewCity, #BusanDirectionIC, #SeoulDirectionIC, #GeumsongElementaryMiddle, #YangsanTransportationProspects, #SasongNewCityTransport, #YangsanHiPass, #EconomicAnalysis, #BCAnalysis, #YangsanRoadNetwork, #BusanYangsanCommuting, #YangsanTransportationMeasures, #YangsanResidentBriefing, #YangsanLH, #YangsanCityHall, #YangsanICLocation, #YangsanTransportationImprovement, #BusanUlsanGyeongnamTransportation, #YangsanSasong, #SasongIC, #YangsanRealEstateProspects, #YangsanCitySupplementaryBudget, #HiPassICService, #SeoulDirectionPromotion, #YangsanRoadConstruction, #YangsanLHContribution, #SasongICEconomicAnalysis, #SasongTransportSystem, #SasongResidentsDemands
Frequently Asked Questions (FAQ)
Q. How was the economic feasibility of the Busan Direction Sasong Hi-Pass IC evaluated?
The economic analysis results of the Busan Direction Sasong Hi-Pass IC showed a B/C value of 1.71, indicating excellent economic viability.
The Busan Direction Sasong Hi-Pass IC is connected to the highway near Geumsong Elementary and Middle School, with the total estimated cost for the project being approximately 16.45 billion won. The economic analysis (B/C) value indicated a favorable investment return. Users from the new city account for 78.2% of traffic demand, which is expected to positively influence transportation convenience for local residents.
Q. What are the plans for the Seoul Direction Sasong Hi-Pass IC?
The Seoul Direction IC will begin its feasibility study immediately with the September supplementary budget, and results are expected in June 2024.
Originally, the Seoul Direction IC was scheduled for inclusion in the 2026 main budget, but due to the Yangsan Mayor's proactive intent, funding of 100 million won for the feasibility study will now be included in the September supplementary budget. The study will cover location evaluation, traffic volume analysis, and economic analysis, with results to be announced in June next year. A simultaneous construction with the Busan Direction IC is also under consideration.
Q. What are residents' opinions and concerns regarding the Sasong Hi-Pass IC project?
Residents near Geumsong Elementary and Middle School have expressed concerns about traffic congestion and student safety.
At the resident briefing, apartment residents near Geumsong Elementary and Middle School raised concerns that the Sasong Hi-Pass IC could worsen traffic congestion in the area and pose safety threats to students. Therefore, addressing these issues will be an important aspect of the project's implementation process. Yangsan City is carefully considering these resident opinions and striving to enhance safety and alleviate traffic congestion.
Q. What are the financial sharing plans for the Sasong Hi-Pass IC installation project?
Yangsan City has decided to bear approximately 3.59 billion won, while LH will contribute 12.86 billion won.
Of the total project cost of approximately 16.45 billion won for the Sasong Hi-Pass IC installation, Yangsan City agreed to bear 3.59 billion won, as coordinated by the metropolitan transportation committee, and LH (Korea Land & Housing Corporation) will contribute 12.86 billion won. The city and LH plan to submit the feasibility report to the road construction corporation in September and to swiftly proceed with administrative procedures such as obtaining road connection permits and signing agreements.
