Gimpo City is pushing ahead with the long-awaited Gomak-Yonggang road development project along Municipal Road No. 22.
The city signed an MOU with the Korea Land and Housing Corporation (LH) for a public land banking arrangement to support the project.
Under the public land banking system, LH's land bank purchases land and compensates landowners upfront, then supplies the land to the city when construction is ready to begin.
The arrangement will ease the city's early compensation burden while laying the groundwork for an earlier ground-breaking.
The project will connect Gomak-ri, near Gimpo International Sculpture Park (Gimpo Youth Training Center), to the civilian control line section of Yonggang-ri.
With a total project cost of 39.1 billion won ($29 million), the road will stretch 4.2 kilometers at a width of 12 meters, accommodating two lanes of traffic.
The project had stalled for years due to difficulties securing compensation funding. With the MOU now in place, the city plans to begin land compensation in early next year and complete construction by the end of 2029.
gilbert@heraldcorp.com