Korea-Poland New Airport Development MOU... Incheon Airport Corporation to Provide Advisory Services

[Asia Economy Reporter Kim Hyewon] The cooperation between the governments of South Korea and Poland in the field of airports and related infrastructure has expanded further, signaling new opportunities for overseas business expansion.

On the 26th, the Ministry of Land, Infrastructure and Transport announced that Minister Byeon Changheum signed a Memorandum of Understanding (MOU) on cooperation for the development of Poland's new airport with Marcin Horała, Poland's Minister of Infrastructure and Special Envoy for Airports.

The event was held online with minimal attendance and in compliance with COVID-19 social distancing guidelines and quarantine measures.

Following this, a contract signing ceremony was held for the strategic advisory service (consulting) that Incheon International Airport Corporation secured from Poland's new airport company (CPK) in November last year.

The strategic advisory service was commissioned by the Polish government through an international competitive bidding process in March last year. It offers a favorable position in the selection process of strategic partners who will participate not only in airport construction and operation but also in equity investment. Global airport operators such as Singapore Changi Airport and Japan Narita Airport showed interest, and Incheon International Airport Corporation was ultimately selected as the strategic advisor, surpassing Japan Narita Airport in the final evaluation.

Incheon International Airport Corporation plans to begin full-scale work this year on advisory and training consulting for the comprehensive business plan (expected to take about two years) that the Polish government plans to commission separately, in consultation with the commissioning agency, Poland's new airport company.

What kind of cooperation projects?

The Polish government has been promoting the construction of a new airport, aiming to open in 2027, to resolve the facility saturation problem of Warsaw Chopin Airport, the existing gateway airport, and to respond to the rapidly increasing air passenger demand.

The local government plans to build a multi-modal transport hub, the largest in Eastern Europe, including not only the new airport with an annual passenger capacity of 45 million but also access railways and a hinterland city development, aiming to become one of the world's top 10 airports with 100 million annual passengers.

Once the mega project for the new airport, which includes hinterland city development such as trade and conventions, hotels, leisure, and research and development (R&D), is fully underway, projects worth about 10 trillion KRW are expected to be promoted in three areas: airport, access transportation facilities, and urban development.

Currently, the Polish government is preparing to establish a comprehensive plan for the new airport development project. Once the implementing company is decided, Incheon International Airport Corporation will serve as a strategic advisor and provide consultation throughout the planning process.

Scope and significance of cooperation

The scope of cooperation in this MOU includes not only policy cooperation in the airport sector necessary for both governments to concretize the development plan of Poland's new airport but also urban development fields such as access transportation facilities like airport railways connecting the airport and the city, and the creation of airport hinterland cities.

In particular, this is the first MOU signed by the Ministry of Land, Infrastructure and Transport with the Polish government in the field of transportation infrastructure. It is expected to activate cooperative activities in various fields such as exchange of policies, information, experience, and technical data in areas of mutual interest including airports, aviation, urban development, and railways; exchange visits of experts and businesspeople; and participation in joint international events and seminars.

In the future, it is expected that domestic companies will be able to actively enter various sectors of the new airport project, including design, construction, equipment export, and airport operation.

Minister Byeon said in his greeting, "Since establishing diplomatic relations between the two countries in 1989, we have maintained continuous cooperation with Poland. This is an opportunity to strengthen strategic cooperation and promote a mutually beneficial cooperative relationship," adding, "I hope practical cooperation will be realized across public infrastructure including airports, roads, railways, and urban development."

President Kim emphasized, "It is an honor to be selected as the strategic advisor for the new airport project, which holds great significance and symbolism for Poland's national economy and aviation industry," and added, "We will do our best to successfully complete the Poland new airport project by utilizing all the capabilities and know-how of Incheon Airport and to develop into a strategic partner in the future."

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