The South Korean Ministry of Land, Transport and Maritime Affairs is to provide Incheon International Airport in Seoul with more than $3bn for a second terminal to expand capacity from 44m to 62m passengers a
In a formal statement, the ministry also said that the expansion – which will created 80,000 jobs ? will also assist Incheon in competing more efficiently with regional rivals for both passengers and freight.
According to the statement, construction on the project will start in 2011 and finish by 2015, with the ultimate aim of creating a major international airport hub for Northeast Asia.
The Ministry says that the second terminal will be built on 350,000sq m of land, in contrast to the existing terminal which is 496,000sq m in size, along with the satellite concourse comprising 166,000sq m.