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Gov't to reopen bidding for Busan airport project following Hyundai E&C's withdrawal
The government plans to reopen bidding within the year for a project to build a new international airport in South Korea's southeastern port city of Busan, the transport ministry said Friday, months after Hyundai Engineering & Construction (E&C) Co. exited the project due to deadline restraints.
The government decided to launch the project in 2022 to build a new airport on Busan's Gadeok Island to handle growing air traffic demand in the region. The new airport had been planned to open in 2035.
In May, Hyundai E&C, which had been selected to handle the project, however, withdrew from the project, citing difficulties in meeting demands to reduce the timeline to a level that fails to guarantee the airport's safety.
Under the government's new plan, the project's construction period has been reassessed at 106 months, longer than the government's original timeline of 85 months, and the estimated cost has been raised to 10.7 trillion won (US$7.26 billion) to account for inflation.
The Gadeokdo New Airport Construction Corp. will oversee the project from tender to completion, with plans to strengthen safety checks and introduce a comprehensive program management system, according to the Ministry of Land, Infrastructure and Transport.
The government seeks to begin construction in the second half of 2026, allowing the airport to open by 2035 if the procedure stays on schedule.
Minister Kim Yun-duk stressed that the airport must be built as a true gateway, equipped to fully handle passenger and cargo demand while serving as a driver of national and regional balance.
"The government will work closely with experts, contractors and local authorities to ensure the project moves forward as swiftly as possible," Kim said.
odissy@yna.co.kr
Source Text
Date
2025.12.01
Views
97
According to Yonhap News,
The government plans to reopen bidding within the year for a project to build a new international airport in South Korea's southeastern port city of Busan, the transport ministry said Friday, months after Hyundai Engineering & Construction (E&C) Co. exited the project due to deadline restraints.
The government decided to launch the project in 2022 to build a new airport on Busan's Gadeok Island to handle growing air traffic demand in the region. The new airport had been planned to open in 2035.
In May, Hyundai E&C, which had been selected to handle the project, however, withdrew from the project, citing difficulties in meeting demands to reduce the timeline to a level that fails to guarantee the airport's safety.
Under the government's new plan, the project's construction period has been reassessed at 106 months, longer than the government's original timeline of 85 months, and the estimated cost has been raised to 10.7 trillion won (US$7.26 billion) to account for inflation.
The Gadeokdo New Airport Construction Corp. will oversee the project from tender to completion, with plans to strengthen safety checks and introduce a comprehensive program management system, according to the Ministry of Land, Infrastructure and Transport.
The government seeks to begin construction in the second half of 2026, allowing the airport to open by 2035 if the procedure stays on schedule.
Minister Kim Yun-duk stressed that the airport must be built as a true gateway, equipped to fully handle passenger and cargo demand while serving as a driver of national and regional balance.
"The government will work closely with experts, contractors and local authorities to ensure the project moves forward as swiftly as possible," Kim said.
odissy@yna.co.kr
Source Text
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Source: Yonhap News (November 21, 2025)