Articles
The Impact of Seoul-Yangyang Expressway on Local Economy
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AuthorDukbong Kang (Seoul National University) and Chamna Yoon (Seoul National University)
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Year2025
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VolumeVol.73
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NumberNo.1
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This paper analyzed the impact of the Seoul-Yangyang Expressway (East Hongcheon-Yangyang section) on local economy using the PSM-DID method. With the opening of the Seoul-Yangyang Expressway, local tax per capita increased by 17.2%, the number of firms increased by 2.5%, and the number of workers increased by 5.6% in the northern region of Gangwon State. These positive effects were greater in coastal areas than in inland areas. The ripple effect on the manufacturing sector was larger in the inland area, while the effect on the tourism-related service was concentrated in the coastal area. The overall highway effect was greater in the coastal area due to the characteristics of Gangwon State, where the manufacturing industry has a small proportion and the service industry has a large proportion.
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