SEOUL– Incheon International Airport Corp. (IIAC), South Korea’s main airport operator, said Tuesday it forged a deal worth 600 billion-won (US$530 million) to develop and run an airport in Indonesia.
The company said it held a signing ceremony with Batam Indonesia Free Zone Authority in the Southeast Asian country’s Batam Island for the deal to develop and operate Hang Nadim International Airport.
Those attending the cerermony included IIAC President Kim Kyung-wook and Airlangga Hartarto, Indonesian coordinating minister for economic affairs.
The deal calls for IIAC to expand the airport facility and operate it for 25 years. It is South Korea’s first overseas airport development and operation deal. Construction is scheduled to begin in June 2022.
Kim said IIAC will export the South Korean airport operation platform by expanding the company’s overseas business through partnerships with domestic companies.
Source: Yonhap News Agency