An aerial view of TK New Airport in North Gyeongsang Province. [Courtesy of Daegu]

According to Pulse by Maeil Business News Korea,

The opening of the Daegu-Gyeongbuk Integrated New Airport, known as TK New Airport, is projected to generate over 5 trillion won in economic output, according to an analysis.

The Ministry of Land, Infrastructure, and Transport recently disclosed the findings from a pre-feasibility study on the civilian airport segment of TK New Airport, a pioneering project integrating both civilian and military aviation by relocating Daegu International Airport. The initiative aims to shift Daegu International Airport, currently serving both the air force and civilians, to Gunwi-gun, Daegu, and Uisung-gun, North Gyeongsang Province.

The anticipated civilian airport’s construction is estimated to cost 2.57 trillion won ($1.94 billion), constituting 22.6 percent of the total project cost, totaling 11.4 trillion won. The civilian airport will occupy an area of 920,000 square meters, constituting 5 percent of the entire airport space of 17.8 million square meters.

The Ministry of Land, Infrastructure, and Transport anticipates that constructing the civilian airport will result in an economic output of 5.1 trillion won and create employment opportunities for over 37,000 individuals nationwide. Around 68 percent of the total economic output, or 3.5 trillion won, and 82 percent of the employment impact are anticipated to be concentrated in the Daegu-Gyeongbuk regions.

Lee Sang-il, an airport policy officer at the Ministry, said that TK New Airport will be designed as a hub of passengers and cargo. The new airport’s facilities will be optimized for aircraft capable of handling triple the cargo capacity of the current Daegu International Airport. Furthermore, both passenger and cargo terminals will be expanded two to threefold.

By 2060, three decades after its opening, the airport is projected to cater to a demand of 12.26 million passengers, including 9.06 million international travelers and 3.2 million domestic passengers, and facilitate the movement of 218,000 tonnes of cargo.

The Ministry envisions commencing construction on the new airport by July 2026, with an official opening anticipated for December 2030.

The relocation of the military airport is a much-anticipated development for Daegu, as the city’s residents have grappled with inconveniences like noise disturbances and flight altitude restrictions stemming from the current airport’s operations.

By Kim Jung-hwan and Han Yubin

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (August 25, 2023)