News
2014.05.14
Daelim Signs Privately Funded Project Implementation Agreement
Daelim Signs Privately Funded Project Implementation Agreement
for Seoul Jemulpo Tunnel with Seoul City
for Seoul Jemulpo Tunnel with Seoul City
Daelim signed an implementation agreement for the Seoul Jemulpo Tunnel Privately Funded Project with Seoul City on May 9, 2014. Daelim President Kim Dongs-su and the Seoul City Administration Deputy Mayor II attended the agreement signing ceremony held at Seoul City Hall.For the Seoul Jemulpo Tunnel, a four-lane underground tunnel will be built in the 7.53km section between Shinwol IC in Yangcheon-gu and Yeouido-dong, Yeongdeungpo-gu (Yeoui Boulevard and Olympic Boulevard). The project will be undertaken to solve the chronic traffic jam around National Assembly Boulevard (Jemulpo Gil) and implement an eco-friendly aboveground space-shaping project at the National Assembly Boulevard. The project is scheduled to commence within this year and is expected to be completed in 2019.
Daelim is participating in the project as the largest investor (16.92% stake) of Seoul Tunnel Co., Ltd., which is implementing the privately funded project. Daelim’s contract amount is KRW 195.1 billion or about 34% of the total construction stake.
