The ceremony of laying the cornerstone of the Ilsan Bridge was taken place on 23rd of July. The first private-invested construction scheme is expected to have a significant role in the creation of the ‘centralized economy in the Northeast Asian region’ and in the exchange between the two Koreas.

At the ceremony held at the Hangang(River) riverside in Geolpo-dong, Gimpo-si, some 300 people, including Gyeonggi-do Province Governor Hak-kyu Sohn, the chairman, Goyang and Gimpo congressmen, the major and the locals.

The Ilsan bridge is the first private-invested construction scheme which will connect a total of 1,840m between Beopgot-dong, Goyang-si and Geolpo-dong, Gimpo-si with a width length of 28.5m.

Total expense will be 174.7 billion Won of which private investments constitute 141.9 billion Won. The rest is supported by Gyeonggi-do. On its completion, it will be administrated by the BTO (Build-Transfer-Operate) system for 30 years, managed by the private enterpriser. The private investors of this scheme, comprised by five consortiums, are superintended by Daelim Industrial Co., Ltd.

The construction is expected to be build for 53 months beginning from 1st August, 2003 to 31st December in 2007.

The building of Ilsan Bridge will directly interconnect northern and southern Gyeonggi regions. By the time of its completion, Sohn said that it is expected to reduce the time and costs as it will ease the traffic holdups in the Goyang, Gimpo and Paju regions, and link Korea International Exhibition Center to the Incheon International airport, making it unnecessary to pass the crowded inner city of Seoul.