Gyeongsangnam-do Province (Governor Park Wan-soo) announced on the 8th that the normal opening of the Gadeokdo New Airport by 2029, a gateway airport for Korea's Tri-Port system, is essential for the balanced development of the Gyeongnam, Busan, and Ulsan regions, as promised by the government.
The Gadeokdo New Airport project, with a total investment of 13.4913 trillion won, aims for a 2029 opening. Key milestones achieved include the establishment of the New Airport Construction Corporation (April 2024) and the commencement of architectural design through an international competition for the passenger terminal and other facilities (July 2024). The basic design for the site development was initiated in October of last year.
Six organizations – the Ministry of Land, Infrastructure and Transport (MOLIT), the Ministry of Oceans and Fisheries (MOF), Gyeongsangnam-do Province, Busan Metropolitan City, Ulsan Metropolitan City, and the Gadeokdo New Airport Construction Corporation – signed a business agreement on December 20, 2024, to ensure the successful opening of the Gadeokdo New Airport and to revitalize the regional economy through the airport and port. They are focusing their efforts on organically linking the new airport with the new port, surrounding development, and transportation networks to ensure that the ripple effects of the new airport lead to the development of regional infrastructure, including the development of surrounding cities and the revitalization of the tourism industry.
In particular, recognizing that communication and cooperation with the private sector are essential for the revitalization of the new airport and the regional economy, the 'Gadeokdo New Airport Governance Council' has been formed with the participation of approximately 40 related organizations, including the signatory organizations. The government, local governments, and related institutions have been actively supporting the timely opening of the airport.
Recent reports indicate that the basic design review requested by MOLIT from the Hyundai Engineering & Construction consortium (including Daewoo E&C and POSCO E&C) suggests a construction period of 108 months (9 years), 24 months longer than the 84 months (7 years) proposed during the bidding process, raising concerns about potential delays in the scheduled opening.
The Gadeokdo New Airport is being promoted as a hub airport leading the revitalization of air cargo logistics, a gateway airport for Korea to establish a two-axis system (Seoul metropolitan area and the Busan-Ulsan-Gyeongnam area) to counter the Seoul-centric system, and a hub airport for the southern region. Together with the Jinhae New Port, which will be the world's largest, it aims to establish a Tri-Port-based integrated logistics system combining port, railway, and airport, thereby securing new vitality and future growth engines for the aviation industry and the regional economy.
Gyeongsangnam-do Province maintains that the normal opening of the Gadeokdo New Airport by 2029 is essential for balanced regional development, as the project is being pursued with strong determination by the government.
Furthermore, Gyeongsangnam-do Province stated that it will monitor the outcomes of the joint TF formed by MOLIT and the Gadeokdo New Airport Construction Corporation (April 28, 2025) and the advisory meetings with experts from various fields to review alternatives. It also affirmed its commitment to fully support the roles of local governments in cooperation with neighboring Busan and Ulsan to ensure the safe and swift construction of the airport.
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