Incheon Bridge

Incheon Bridge is a two-way, 6-lane expressway that connects Yeongjongdo where Incheon International Airport is located to Songo International City, IFEZ. Its total length is 12.34km. When the bridge is completed, it will be connected to the Second and Third Kyungin Expressway and will reduce the travel time of more than 40 minutes from Incheon, Southern Seoul and Metropolitan areas to Incheon International Airport. Currently, it takes about an hour from Songdo International City to Incheon International Airport but it will be reduced to about 15 minutes.

It will reduce the logistic cost by improving access to the airport and the nation will be developed with balance which leads to synergy effect. It will have the role to be used as an alternative road in case of emergency on Yeongjong Bridge. The traffic volume will improve according to land development in Yeongjongdo and development of entertainment facilities in Yongyudo and Muuido.

It is expected to generate traffic volume of 40,000 vehicles per day and about 14million vehicles annually when Incheon Bridge is opened(2010).

Two-way, 6-lane Incheon Bridge is part of the Second Kyungin Expressway which is the No.110 expressway. (Presidential Decree Article 18579/2004.11.3). Entrance to Incheon Bridge is ▲Interchange(IC): Yeongjong IC, Okryun IC, Songdo IC ▲Junction(JCT) : New Airport City JC, Yeonsu JC, Hakik JC

The total project cost is 1trillion 591.4billion won (private capital:823.1billion won + government support:768.3billion won) 782.7billion won out of the total private capital is the Project Finance that the domestic and overseas institutes participated in. KB bank and IBK participated as the lead managers of Incheon Bridge project finance and it consists of multiple financial institutes such as MKIF(Macquarie Korea Infrastructure Fund ? Cofounder of Australia Macquarie Group and Shinhan Financial Group), Kyobo Life Insurance, Daehan Life Insurance, Samsung Life Insurance and etc. Incheon Bridge PF awarded ‘Best PF Prize-Asia-Pacific Region Traffic Infrastructure Part in 2005’ selected by Euromoney, a British financial journal. What is PF? Unlike the general finance that is based on loan and credit of certain enterprise, it is a method used to finance necessary amount to perform the project by loan of the project itself. It is an advanced financial method that is commonly applied on projects related to oil, shipping, highways, bridge construction and etc that require huge amount of fund.

The main contractor responsible for the construction and operation of Incheon Bridge is Incheon Bridge Corporation(CEO Soo-Hong Kim). It is a company founded by AMEC, a British multinational company, for this Incheon Bridge Project together with Incheon Metropolitan City and financial investors. Incheon Bridge Corporation is responsible for the construction progress and fund operation until the construction completion and will be in charge of operation for 30 years.

It is safely designed to endure more than 100 years. The concrete for the base that includes the pier is enhanced with water-tightness and by ensuring appropriate thickness of covering, it prevents corrosion of rebar due to salt. Base plate of bridge(intensity: 45Mpa) is also enhanced with water-tightness and its covering (50mm) is handled.

It is designed to endure in strong wind (wind speed: 72m/sec = 260km/hour) Wind Tunnel Test of Model Bridge: Monash University, Australia It could endure in strong wind of 64m/sec(230km/hour) even under construction. Incheon Bridge is an excellent earthquake-resistant bridge that is designed to endure an earthquake of 7 magnitude.