Ruling and Opposition Parties Tentatively Agree on Exemption from Preliminary Feasibility Study for Gadeokdo New Airport Special Act

[Asia Economy Reporter Koo Chae-eun] The National Assembly's Land, Infrastructure and Transport Committee held a bill review subcommittee meeting on the 19th and reached a tentative agreement on the "Special Act for the Construction of Gadeokdo New Airport (Gadeokdo Special Act)."

On the same day, the ruling and opposition parties agreed to include in the bill the provision that the preliminary feasibility study (PFS) can be exempted, which had been a contentious issue initially.

Key special provisions such as the reduction of the preliminary feasibility study and exemption from environmental impact assessments were maintained as originally proposed. Additionally, the Gadeokdo New Airport Special Act, jointly proposed by 136 Democratic Party lawmakers, includes measures to simplify procedures and accelerate project implementation. It also contains provisions for the state to provide financial support benefits for related infrastructure construction.

The bill also includes tax reductions for project implementers and special provisions related to free trade zones to revitalize the surrounding areas.

Lee Heon-seung, the opposition party secretary of the Land, Infrastructure and Transport Committee and a member of the People Power Party, told reporters, "Regarding the PFS, it was agreed that 'the Minister of Strategy and Finance may exempt it for rapid and smooth airport construction despite Article 38, Paragraph 1 of the National Finance Act if necessary.' The preliminary feasibility review will still be conducted," he said.

Lee added, "Most of the arrangements are done, and the last issue is the basic plan for Gimhae New Airport. We are discussing whether to include its abolition in the supplementary provisions. The PFS is not a mandatory regulation but an optional one," he explained.

Article 38, Paragraph 1 of the National Finance Act stipulates that for projects with a total cost of 50 billion won or more and state financial support of 30 billion won or more, the Minister of Strategy and Finance must conduct a preliminary feasibility study in advance and submit the results to the relevant standing committee of the National Assembly and the Special Committee on Budget and Accounts. The Land, Infrastructure and Transport Committee plans to deliberate on remaining issues such as supplementary provisions and then approve the Gadeokdo New Airport Special Act.

This content was produced with the assistance of AI translation services.