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(Seoul=Yonhap Infomax) Jong Hwa Han – The Ministry of Land, Infrastructure and Transport (MOLIT) and the Gadeokdo New Airport Construction Corporation announced on the 21st that they plan to issue a tender notice for the Gadeokdo New Airport site development project within this year.
• Construction period extended from 84 months to 106 months
• Groundbreaking scheduled for H2 2026, opening targeted for 2035
The site development will be carried out through a design-build (turnkey) contract, with a construction period set at 106 months and a total project cost estimated at 10.7 trillion won ($7.8 billion).
The government previously sought to award the contract to a consortium led by Hyundai Engineering & Construction Co. (Hyundai E&C) with an 84-month (7-year) timeline, but the deal collapsed. In relaunching the project, the government has extended the construction period to 106 months.
MOLIT explained, “Ensuring the safe construction and operation of the airport requires a focus on stabilizing the soft ground. Based on expert recommendations, we determined that a longer period is necessary for ground stabilization, resulting in a total construction period of 106 months.”
The Gadeokdo New Airport project has been moving forward since the basic plan was announced in December 2023, with bidding procedures underway for the construction phase.
After four failed tenders between May and September 2024, negotiations with the Hyundai E&C consortium were halted in June 2024. The ministry has since been exploring ways to resume the project.
Hyundai E&C had argued that the site development would require 108 months (9 years)—two years longer than the government’s initial 84-month proposal—based on its internal review involving over 250 experts and 60 billion won ($44 million) in costs, ultimately withdrawing from the project.
The project cost has been revised from 10.5 trillion won to 10.7 trillion won ($7.8 billion) to reflect inflation.
The planned airport site features thick layers of soft marine ground, raising the risk of differential settlement due to the runway spanning both land and sea. MOLIT stated that the turnkey approach will allow contractors to leverage their expertise and accountability in ground treatment, breakwater installation, land reclamation, and runway construction, ensuring seamless integration of all processes.
The government aims to expedite the necessary procedures to issue the tender notice within the year, select a contractor, and complete the basic design, with initial construction slated to begin in the second half of 2026. If administrative and construction processes proceed smoothly, the airport is expected to open by 2035.
Minister of Land, Infrastructure and Transport Kim Yoon-duk emphasized, “Gadeokdo New Airport must be built as a gateway airport equipped to handle sufficient passenger and cargo demand, driving balanced national and regional development.”
He added, “While the construction period was set with safety as the top priority, we will actively cooperate with experts, contractors, and local governments to ensure the project progresses as swiftly as possible.”
MOLIT stated that Hyundai E&C remains eligible to participate in the new tender. A ministry official said, “Legal review regarding any sanctions on Hyundai E&C is ongoing, so there are currently no grounds to exclude the company from bidding.”
However, as Hyundai E&C has already indicated its intention not to participate in the Gadeokdo New Airport project, industry consensus is that its actual participation is unlikely.
During the previous negotiations, Hyundai E&C concluded that a 108-month construction period was necessary to ensure safety and quality, but ultimately withdrew, citing the government’s refusal to extend the timeline as a barrier to guaranteeing safety.
jhhan@yna.co.kr
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