Incheon International Airport expands operation to Vietnam
The Incheon International Airport Corporation announced on Thursday that it has been selected as a prioritized contractor for the project on consulting services for operation of Vietnam's new Long Thanh International Airport.
Airport construction site. Photo courtesy of Vietnam News Agency.
Long Thanh, located in the southern province of Dong Nai, is expected to help reduce congestion at the overloaded Tan Son Nhat International Airport in Ho Chi Minh City – Vietnam’s largest economic hub. It is designed to be developed in three phases from 2026 to 2050 at a cost of KRW18.3 trillion ($13.3 billion) to serve 100 million passengers and 5 million tons of cargo.
The corporation has formed a joint venture with PMI, a Vietnamese partner company that is carrying out the basic design of the airport's passenger terminal. It has led overall in technology and cost evaluation, surpassing other international airport operators such as France's ADP and Germany's Fraport.
If the contract is signed, the Korean firm will provide consulting services to support the successful launch of Long Thanh airport. This includes drafting airport operation concepts, developing commercial strategies, and delivering consultations on trial operation. The project is set to be completed within 24 months from the contract signing date, with a value of approximately KRW11 billion ($8.06 million).
Incheon International Airport Corporation President and CEO Lee Hag-jae stated that by signing this project with Vietnam, the corporation will establish a new base for its overseas business in Southeast Asia, following Batam Airport in Indonesia and Manila Airport in the Philippines.
It aims to operate more than 10 airports abroad by 2040 to realize its strategy of expanding international business and becoming a global airport specialist.
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