The initiative is a five-year plan that is set up to promote airport development projects systematically and efficiently in accordance with the Airport Facilities Act. (Yonhap)
SEOUL, Jul. 1 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport announced Sunday the establishment of a “Sixth Airport Development Comprehensive Plan”, which will take effect from 2021 to 2025, to counter changes such as the growth of the high-tech and aviation industries.
The initiative is a five-year plan that is set up to promote airport development projects systematically and efficiently in accordance with the Airport Facilities Act.
First of all, the ministry plans to present ‘Vision and Strategy 2050′ that predicts air passenger and cargo demand for the next 30 years and reviews the airport system accordingly.
In line with the presented vision and strategy, the ministry will review whether the current airport area and hierarchy are suitable for the changed reality and future.
Currently, domestic airports are divided into a hub airport, which is the flagship Incheon International Airport; regional airports, which handle domestic and medium and short-haul international flights; and local airports, which handle domestic demand in the region.
The sixth plan will also establish an airport infrastructure development plan over the next five years, taking into account internal and external conditions and flight demand.
The plan will also include investment needs and funding plans related to development strategies.
The Sixth Airport Development Comprehensive Plan will be finalized and announced in December of next year after public opinions are collected and deliberations by the Civil Aviation Office of the ministry have been completed.
D. M. Park (dmpark@koreabizwire.com)
