Macquarie Korea Infrastructure Fund

Gwangju Second Beltway Section 1


Busan New Port the 2nd Rear Road

Main road connecting Busan New Port and major metropolitan areas of Korea

Asset overview

Busan New Port the 2nd Rear Road is a dual two-lane, 15.3km long expressway that links Busan New Port Hinterland Complex located in Changwon-si, Gyeongsangnam-do and Jillye Junction on Namhae Expressway located in Gimhae-si, Gyeongsangnam-do. The road is one of two main roads to/from Busan New Port to Seoul Metropolitan area, Chuncheong and Jeolla-do. Construction began in July 2012 and was completed in January 2017. 

Investment details

MKIF has acquired equity and subordinated debt of Busan New Port 2nd Rear Road Co., Ltd. (B2RR), the concessionaire of Busan New Port the 2nd Rear Road, from a financial investor in September 2020. As of record date, MKIF is a 47.6% shareholder of B2RR, and MKIF’s total investment amount is KRW 110.7 billion (equity KRW 41.5 billion and subordinated debt KRW 69.2 billion).

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Concession agreement  
Government authority Ministry of Land, Infrastructure and Transport
Concession term 30 years
Concession term commencement January 2017
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Length 15.3 km
Capacity Dual two-lane

Asset location