Latest news with #IncheonInternationalAirportCorporation
Yahoo
21-07-2025
- Business
- Yahoo
Korean airport group wins bid for Montenegro airports
The Incheon International Airport Corporation (IAAC), owned by South Korea's Ministry of Land, Infrastructure and Transport, has been ranked first in a long-standing bidding process to operate two major airports in Montenegro, it has announced. The tender grants a 30-year concession to run Podgorica Airport, in the nation's capital, and Tivat Airport, a key tourism entrance. "We will solidify our position as a global airport operator and accelerate our overseas expansion through this project," IAAC president Lee Hak-jae said in a statement. "We aim to successfully complete the final contract once designated as the preferred bidder." Corporación América Airports (CAAP), a Luxembourg-American consortium, ranked second. Other bidders now have a 15-day period to appeal the decision. The commission ranking the tenders originally set a 9 June deadline, but this was extended after the process was hit by irregularities and disagreements. Consultants from the International Finance Corporation threatened to pull out if the commission did not explain why it was planning to reject a bid that met all the tender requirements. According to previous media reports, in the first round of scoring for the bids, the IAAC received 79.7 points, while CAAP scored 85 points. Given that the minimum point threshold is 80, this should have disqualified IAAC. Following another reevaluation of the bids, IIAC received 81.69 points and CAAP just 87.8, causing some pushback. Currently, both airports are operated by Montenegro state-owned Aerodromi Crn Gore. They are both in need of upgrades to accommodate rising passenger numbers. However, specific investment plans are still pending on the tenders' outcome. According to the IAAC, since launching its first international operation in 2009, it has finalised 39 overseas projects in 18 countries, generating a cumulative contract value of $405m (Won560.8bn). In June, it signed a memorandum of understanding with the Guayaquil Airport Authority in Ecuador to develop a new international airport. "Korean airport group wins bid for Montenegro airports" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
19-06-2025
- Business
- Zawya
Incheon, TAV advance in race to run Kuwait's Terminal Four
KUWAIT CITY - The Central Agency for Public Tenders (CAPT) has confirmed that South Korean company Incheon International Airport Corporation and Turkish company TAV passed the technical evaluation for the operation and management of Terminal Four (T4) at Kuwait International Airport. Sources told the newspaper that this evaluation was part of a comprehensive assessment conducted by the Directorate General of Civil Aviation (DGCA) in a bid to enhance the operation, management, and overall service quality at Terminal Four. Sources disclosed that the scope of work includes training, maintenance, and development initiatives. Sources added that CAPT reviewed the file in its latest meeting and reconsidered the request of the DGCA to examine the results of the technical evaluation submitted by the bidding companies. According to the sources, CAPT reviewed a letter from the DGCA dated May 5, which included Incheon's written acknowledgment of full compliance with all contract terms. 'This was in reference to Resolution No. 27, issued during Meeting No. 45/2025 of the CAPT Board of Directors. Based on this, the board approved the technical evaluation results and authorized the opening of financial bids from companies that met the technical specifications. Incheon got an evaluation score of 87.5 percent, while TAV followed closely with 87 percent, sources narrated. Sources pointed out that this development is considered a major leap in the competitive tendering process for the strategic management of Terminal Four, an important facility at the airport. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Korea Herald
06-05-2025
- Business
- Korea Herald
Air passenger traffic to Japan hits record high in Jan.-April period
The number of flight passengers traveling from South Korea to Japan hit a record high of approximately 9 million in the first four months of this year, government data showed Tuesday. A total of 8.88 million passengers flew from domestic airports to Japan from Jan. 1 to April 28, according to the data from the Incheon International Airport Corporation and Korea Airports Corporation. With an average of around 49,000 people using Incheon International Airport daily in April, the total number is estimated to have reached over 9 million during the January-April period. The estimated figure marks an 8.8 percent increase compared with the same period from last year and the highest ever recorded for the route. The rise in travel to Japan is attributed to airlines expanding routes and offering promotional travel packages. Air traffic to China has also surged thanks to Beijing's implementation of a visa-free policy for Korean travelers in November. A total of 5.72 million passengers used the China route from November to March, jumping 29.4 percent from the same period a year ago. (Yonhap)
Korea Herald
14-04-2025
- Business
- Korea Herald
Incheon Airport to consult on Poland's new air hub
Incheon International Airport Corporation announced Monday that it has signed a contract with Poland's Centralny Port Komunikacyjny, or CPK, to provide Phase 2 operational consulting services for the European country's new airport project. The six-month contract, running from April to September, follows the successful completion of Phase 1 consultation, which the Korean airport secured in 2023. The new Polish airport, led by CPK, is a major infrastructure initiative aimed at replacing the existing Warsaw Chopin Airport with a state-of-the-art hub capable of handling up to 100 million passengers annually in its final phase. Construction is scheduled to begin next year, with the official opening planned for 2032. As part of the second phase, Incheon Airport will provide expert consultations across key areas of airport operations, including aviation security, restricted area management, information and communication technology infrastructure, passenger signage, terminal flow design, and access transportation planning. Through this continued collaboration, Incheon Airport aims to solidify its presence in the European market and further demonstrate its global leadership in airport development and operations. 'We will complete this project with the same dedication and expertise that led to the success of previous collaborations,' said IIAC President and CEO Lee Hag-jae. 'This project will serve as a key stepping stone for expanding our global footprint across Europe, Southeast Asia and the Middle East.'
