"New Airport Construction Without Demand Survey...Fears of National Fiscal Crisis"

Discussion on the challenges of building a new airport from an economic and industrial perspective

Concerns have been raised that new airport construction projects currently underway in Korea, including Jeju's second airport, are proceeding without proper demand surveys and are likely to cause a crisis in the country's finances.

Koo Kyo-hoon, chairman of the International Association of Logistics Companies, made the claim during a panel discussion titled 'Will New Airports Revitalize Local Economies - Problems of New Airport Construction from the Economic and Industrial Perspectives' held at Seminar Room 2 of the National Assembly Building in Yeouido, Seoul, on Tuesday.

"Currently, out of the 15 airports in Korea, only four are operating properly - Jeju, Incheon, Gimpo, and Gimhae - and 11 are deficit airports that have been operating at a loss for a long time and consuming taxpayer money," said Mr. Koo. "However, eight more airports are currently under construction and two more are being considered for construction."

He added, "I am concerned that indiscriminate airport construction without a detailed and clear study of aviation demand may lead to a crisis in national finances due to local selfishness and vote-conscious administration by the government, lawmakers, and local government leaders."

"We must stop the plans to build international airports such as Gyeonggi International Airport, which lacks feasibility and economic viability while destroying the precious natural ecological environment that must be preserved for generations to come, and Jeju Airport 2, which can only maintain the value of the beautiful volcanic island by limiting development and attracting only a limited number of tourists to the World Natural Heritage site," said Mr. Koo.

"It is necessary to review from the beginning whether to continue operating most domestic airports that are currently operating at a loss and consuming public taxes and how to revitalize them dramatically, and to properly examine the feasibility and economic viability of the 10 new airports currently being promoted, as well as environmental issues looking 100 years into the future," he said.

Hosted by the National Coalition for the White Paper on New Airports, Representative Yoon Jong-ho of the Progressive Party of Korea, and Representative Seo Wang-jin of the Fatherland Innovation Party, the debate featured a presentation by Koo Kyo-hoon, followed by a discussion between Yang Jun-ho, professor of economics at Incheon National University, Kim Sang-chul, director of the Public Transportation Network Policy Center, and Kim Ji-eun, co-chair of the Saemangeum New Airport White Paper Joint Action.