Macquarie Korea Infrastructure Fund

Dongbuk Light Rail Transit


Dongbuk Light Rail Transit

Rail project that connects Wangsimni of Seongdong-gu and Sanggye of Nowon-gu in northeast Seoul.

Asset overview

Dongbuk LRT is a 13.4km-long underground light rail transit system that connects Wangsimni of Seongdong-gu and Sanggye of Nowon-gu in northeast Seoul. Construction is expected from the first half of 2021 to the first half of 2026, followed by the operation period of 30 years. Upon operation, Dongbuk LRT is expected to offer a competitive means of transportation along its route in terms of travel time and cost, attracting some of the commuting drivers and passengers who use the existing public transportations in the region. In addition, the rail would provide users an access to and from three main business districts of Seoul (Central Business District, Yeouido Business District and Gangnam Business District) via its seven transfer stations that connect to nine other metro systems in Seoul.

Investment details

MKIF committed to invest in Dongbuk Urban Railway Co., Ltd., the concessionaire of Dongbuk Light Rail Transit Project, in the form of equity and subordinated loan. The size of MKIF’s investment commitment is KRW 82.7 billion, which is comprised of equity interest of KRW 35.4 billion and subordinated loan of KRW 47.3 billion. MKIF’s shareholding in Dongbuk Urban Railway Co., Ltd. will be 30% upon full deployment of the committed amount.

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Concession agreement  
Government authority Seoul Metropolitan City
Concession term 30 years
Concession term commencement 2026 (expected)
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Track Length 13.4 km
No. of stations 16 stations
No. of trains 25 trains

Asset location