Incheon Airport Extends Airport Facility Usage and Rental Fee Reductions for 6 Months
Departure hall of Incheon International Airport Terminal 1. Photo by Mun Ho-nam munonam@
View original image[Asia Economy Reporter Ryu Tae-min] The Ministry of Land, Infrastructure and Transport, Incheon International Airport Corporation, and Korea Airports Corporation announced on the 15th that the reduction period for airport facility usage fees and commercial and office facility rental fees will be extended by six months until the end of December.
This decision was made considering that, as of May, the number of international airline passengers decreased by 87.3% compared to the same month in 2019 before the COVID-19 outbreak, and the reduction period for airport facility usage fees and rental fees, which was scheduled to end at the end of June, will be further extended. The government expects that this additional six-month extension will provide a total support effect of 356.6 billion KRW to the aviation industry.
So far, the government, Incheon International Airport Corporation, and Korea Airports Corporation have implemented reduction and deferment measures for commercial facility rental fees and airport facility usage fees since March 2020 to minimize the damage to the aviation industry caused by COVID-19.
Incheon Airport Corporation and Korea Airports Corporation have supported a total of 259.9 billion KRW over the past two years by reducing landing fees by 20% and 10%, respectively, and fully exempting parking fees and apron usage fees. Additionally, in the commercial facility sector such as duty-free shops, 2.4819 trillion KRW and 100.6 billion KRW in other office facility sectors have been reduced, providing a total support of 2.8384 trillion KRW.
Kim Yong-seok, Director of the Aviation Policy Office at the Ministry of Land, Infrastructure and Transport, stated, “This additional extension of airport facility usage fee and rental fee reductions is to help the aviation industry endure the COVID-19 situation well and lead healthy growth.” He added, “Along with this measure and the ‘Early Normalization of International Flights’ initiative implemented from June 8, we hope that the economic burden and inconvenience for the public will be alleviated and that the aviation industry can take off again.”
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.