5-Jan-2011 11:21 AM

South Korea to invest USD1.6bn in Incheon by 2015

South Korea's Government plans to invest USD1.60 billion in the third-phase expansion of Incheon International Airport from 2011 to 2015 (Reuters, 04-Jan-2011). The investment will be made by the state-owned airport and the Ministry of Land, Transport and Maritime Affairs. USD3.6 billion (SKW4 trillion) will be spent on construction from 2009 to 2017. In Sep-2011, the government will sell up to a 49% stake in the airport, aiming to complete the deal by 2011, but it has yet to launch the sale as legislation issues were still pending at the parliamentary level.