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(Seoul=Yonhap Infomax) Jong Hwa Han — South Korea's 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 land development works of the Gadeokdo New Airport by year-end.
The land development project will be conducted under a design-build (turnkey) contract, with a construction period set at 106 months and a total project cost estimated at 10.7 trillion won ($7.9 billion).
The government previously sought to sign a private contract with a consortium led by Hyundai Engineering & Construction Co., South Korea's leading builder, requiring an 84-month (7-year) completion period. After the deal collapsed, authorities have relaunched the project with an extended timeline of 106 months.
MOLIT explained the extension: "Ensuring the safe construction and operation of the airport requires thorough treatment of the soft ground," adding, "Based on expert recommendations, we have allocated sufficient time for ground stabilization, resulting in a total construction period of 106 months."
The Gadeokdo New Airport project has been advancing through bidding procedures since the master plan was announced in December 2023. After four failed tenders between May and September 2024, negotiations with the Hyundai E&C consortium were halted in June 2024, prompting the government to seek alternative approaches.
Hyundai E&C had argued that the land development phase required 108 months (9 years)—two years longer than the government's original 84-month proposal—citing safety and technical concerns, and ultimately withdrew from the project.
The project cost has been revised from 10.5 trillion won to 10.7 trillion won to reflect inflation.
The planned airport site features thick marine soft ground, raising the risk of differential settlement due to the runway's land-sea configuration. MOLIT stated that the design-build (turnkey) approach will ensure that contractors with proven expertise and accountability can integrate ground treatment, breakwater installation, marine and land reclamation, and runway construction in a coordinated manner.
The government aims to expedite the necessary procedures to issue the tender notice within the year, select a contractor, and complete basic design, with groundbreaking for priority construction targeted for the second half of 2026.
If administrative and construction processes proceed as scheduled, the Gadeokdo New Airport is expected to open by 2035.
Minister of Land, Infrastructure and Transport Kim Yoon-duk emphasized, "Gadeokdo New Airport must be developed as a gateway airport equipped to handle sufficient passenger and cargo demand, driving balanced national and regional development."
He added, "While the construction period prioritizes safety, we will work closely with experts, contractors, and local governments to advance the project as swiftly as possible."
MOLIT stated it is difficult to predict whether Hyundai E&C will participate in the renewed tender for the land development works. A ministry official said, "Legal review regarding any sanctions on Hyundai E&C is ongoing, so we cannot establish rules to exclude the company at this stage."
The official added, "Depending on the timing of the tender, the legal review may be completed, but it is difficult to anticipate Hyundai E&C's participation."
Industry consensus suggests that Hyundai E&C is unlikely to rejoin the bidding process, given its previously stated decision to withdraw from the Gadeokdo New Airport project. During the private contract negotiations, Hyundai E&C invested over 60 billion won and mobilized more than 250 experts, ultimately concluding that a 108-month construction period was necessary for safety and quality assurance.
Unable to bridge differences with the government, Hyundai E&C announced in May, "Despite our efforts to ensure safety and quality, it is impossible to guarantee safety within the proposed timeline," and confirmed its withdrawal from the land development phase of the Gadeokdo New Airport project.
jhhan@yna.co.kr
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