Cheongna Sky Bridge traffic volume exceeds 10 million… Concerns about increased compensation for losses

As the traffic volume of Cheongna Sky Bridge, the third bridge connecting Yeongjong Island, which embraces Incheon International Airport, and the inland area exceeds 10 million vehicles in just 8 months of opening, there are concerns that the amount of compensation for losses that Incheon City will have to pay for the existing bridge will increase.

According to the Incheon Free Economic Zone Authority on the 4th, the traffic volume on the Cheongna Sky Bridge (3rd Bridge), which opened on January 5th, exceeded 10 million vehicles on the 18th of last month and was counted at 10.6 million vehicles as of the end of last month.

Of the 10.6 million vehicles, 5.9 million vehicles are traveled by Incheon citizens eligible for free tolls, and 4.7 million vehicles are traveled by residents outside the Incheon area (tolls of 2,000 won for small vehicles).

The traffic volume of Cheongna Sky Bridge was around 950,000 units in January, the first month of its opening, but steadily increased, reaching 1.37 million units last month.

The Incheon Economic Authority appears to be concerned about the possibility that loss compensation to be paid to the operator of the existing bridge connecting Yeongjong Island will increase as the traffic volume of Cheongna Sky Bridge increases.

In accordance with the agreement regarding compensation for losses signed with the Ministry of Land, Infrastructure and Transport in December 2020, Incheon City must bear compensation for losses due to the decrease in toll revenue from the existing bridges, Yeongjong Bridge and Incheon Bridge, after the opening of Cheongna Sky Bridge.

The existing bridge operator is likely to demand excessive compensation for losses, claiming a decrease in profits due to the increase in traffic on the Cheongna Sky Bridge.

In fact, New Airport Highway, the operator of the Incheon Airport Expressway (including Yeongjong Bridge), filed a lawsuit in the Seoul Administrative Court last month against the Ministry of Land, Infrastructure and Transport and Incheon City, requesting compensation for losses amounting to 29.2 billion won.

It was found that this operating company filed a lawsuit to the effect that it should pay compensation for losses and interest on delays equivalent to the first quarter (KRW 12.95 billion) and the second quarter (KRW 16.28 billion) of this year.

The Incheon Economic Office is currently responding by carrying out a service to calculate compensation for losses from existing bridges following the opening of Cheongna Sky Bridge.

Based on the related agreement signed in 2017, the Incheon Economic Authority's position is that compensation for losses can only be paid if more than 30% of the traffic on the existing bridge is converted to the Cheongna Sky Bridge.

In the case of Incheon Bridge, it was stated that there was no loss compensation to be paid as there was not much traffic due to the opening of Cheongna Sky Bridge.

An official from the Incheon Economic Office said, “We will actively respond to the lawsuit and minimize compensation for losses.”