S. Korea to spend 4 tln won to expand Incheon airport

SEOUL, June 29 (Yonhap) -- South Korea plans to invest 4 trillion won ($3.13
billion) by 2015 to build a new passenger terminal and to expand an existing
cargo terminal and other facilities at the country's biggest airport, the
government said Monday.
Incheon International Airport is competing with other rival airports in Hong
Kong, China and Japan as it tries to draw more cargo and passengers and emerge as
a regional hub in Northeast Asia.
Construction on the new project will start in 2011, according to the Ministry of
Land, Transport and Maritime Affairs.
When the expansion is completed, Incheon airport will be capable of handling 62
million passengers and 5.8 million tons of cargo a year, up from the current
capacity of 44 million passengers and 4.5 million tons of cargo, according to the
ministry.
The expansion plan is also part of Seoul's efforts to boost construction projects
and stimulate sluggish domestic demand and exports.
The project is expected to generate around 80,000 new jobs, the ministry said.
sam@yna.co.kr
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