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Relocation of Daegu Aiprort Expected to Induce KRW 13 tr Production and 12,000 Jobs

According to Newsis News,

(DAEGU=Newsis News) Relocation of Daegu Airport will induce about KRW 13 trillion in production, KRW 5.5 trillion in added value, while leading to the creation of 12,000 jobs, an analysis found. Currently, the Ministry of National Defense is listening to opinions of relevant local governments on five candidate sites for the relocation.

The Korea Transport Institute conducted an analysis on the economic impact of the military airport relocation from September to November last year commissioned by the Ministry of National Defense, according to the Daegu Metropolitan Government.

The institute assessed quantitative ripple effect caused by the relocation in construction phase and operation phase (30 years after construction) and converted them into numerical values by using the multi-regional industry linkage analysis model (MRIO).

According to the finding, the relocation is projected to generate about KRW 7.5 trillion in production, KRW 2.6 trillion in added value, and create 53,000 jobs in North Gyeongsang Province.

In Daegu, KRW 800 billion in production, KRW 300 billion in added value, and 6,000 jobs are expected to be induced by developing the former site for five years.

In addition, the airport relocation was predicted to vitalize the regional economy and enhance local infrastructure while spreading the influence to other sectors such as healthcare and tourism due to the increase in visits to the city.

Copyrights Newsis News. All Rights Reserved.

Source Text

Source: Newsis News (Dec. 28, 2016)
** This article was translated from Korean.