‘Korea’s largest business aviation complex’ to be built at Incheon Airport

Incheon International Airport Corporation has started the Incheon Airport Business Aviation Complex (FBO) development project, the largest in Korea.

Incheon Airport Corporation announced on the 14th that it will be recruiting developers for the Incheon Airport Business Aviation Complex by the 22nd of next month.

This project is to create a business aviation complex equipped with a private jet terminal, two hangars, and 24-hour airport services on a 170,000㎡ site around Incheon Airport.

The private jet terminal will be built as Korea's largest dedicated passenger facility (building area of ​​more than 3,000 m2) capable of independent passenger processing, customs, immigration, and quarantine (CIQ) operation, and security screening.

Here, a wide range of services are provided, including lounges and customized services for private jet users and crew, as well as aircraft maintenance, repair, storage, ground support, and refueling services.

The two hangar buildings will each have a construction area of ​​over 4,800 m2 and will be constructed in two stages. However, if the construction area of ​​the first hangar is more than 9,600 m2, there is no need to build an additional hangar.

The project will be carried out through 100% private investment and development, and Incheon International Airport Corporation will create the project site and apron and support power and communication infrastructure.

Participation eligibility is limited to companies that have operated a private aircraft terminal for a total of 2 years or more within the past 5 years or have been in business for more than 2 years after registering as an aircraft handling business.

You can participate as a sole corporation or as a representative of a consortium (with a stake of 30% or more).

The corporation plans to select the highest scorer among companies that earned more than 85% of the total evaluation score as the preferred bidder and then negotiate and conclude a concession agreement.

The corporation aims to complete the business aviation complex by first opening a private jet terminal in 2028 and then opening a hangar in 2030.

If the project proceeds as planned, the demand for business aircraft arrivals at Incheon Airport is expected to increase from 943 in 2030 to 4,611 in 2040.

Through this project, the corporation plans to strengthen Incheon Airport's competitiveness in the aviation industry by expanding its general passenger-centered airport functions to the business aviation sector.

In Korea, the need for facility development and service diversification has been consistently raised as the FBO industry has not been activated compared to countries of similar economic size.

In Korea, the Business Aviation Center has been operating at Gimpo Airport since 2016, but operations are restricted from 11 PM to 6 AM due to noise regulations.

Lee Sang-yong, head of Incheon International Airport Corporation's new business division, said, "We will further increase the competitiveness of Incheon Airport by creating the largest business aviation complex in Korea and the third largest in the world."