Macquarie Korea Infrastructure Fund

Woomyunsan Tunnel


Woomyunsan Tunnel

Tunnel under Mount Woomyunsan providing a direct route between southern Seoul and southern Gyeonggi Province.

Asset overview

Woomyunsan Tunnel is a 3.0 km, dual two-lane toll tunnel under Mount Woomyunsan providing a direct route between the Seoul suburb of Seocho and the satellite cities of Kwachon and Anyang in Gyeonggi province. Construction on the tunnel began in August 1998, and it began operations in January 2004.

Investment details

MKIF has invested in Woomyunsan Infraway Co., Ltd. (“WIC”), the concessionaire of Woomyunsan Tunnel. As of the record date, MKIF is a 36.0% shareholder of WIC, and MKIF’s total investment amount is KRW 20.3 billion (equity KRW 5.3 billion and senior loan KRW 15.0 billion).

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Concession agreement  
Government authority Seoul Metropolitan City
Concession term 30 years
Guarantee duration N/A
Concession term commencement January 2004
Minimum Guarantee N/A
Revenue Cap N/A

*As part of the capital restructuring transaction completed in January 2016, the Minimum revenue guarantee provision was removed. Please refer to MKIF disclosure on 14 January 2016.

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Length 3.0 km
Capacity 4 lanes in both directions

Asset location