Assemblyman Heo Jongsik: "Baengnyeong Airport to Open in 2029 if Feasibility Study Passes This Year"

Ministry of Land, Infrastructure and Transport Plans Baengnyeong Airport Construction from 2022 to 2029 with an 8-Year Project Period
Annual Operating Cost 2.3 Billion KRW... Need for Policy Development to Reduce Expenses

Scenery of the planned site for Baengnyeong Airport construction (Solgae District) [Provided by Incheon City]

[Asia Economy Reporter Park Hyesook] It has been confirmed that Incheon Baengnyeong Airport, which is known to open in 2027, is being promoted with the goal of completion in 2029 after undergoing a preliminary feasibility study by the end of this year.

According to the preliminary feasibility study data on the 'Baengnyeongdo Small Airport Construction Project' submitted by the Ministry of Land, Infrastructure and Transport to Heo Jongsik, a member of the National Assembly Land, Infrastructure and Transport Committee from the Democratic Party of Korea, the project period for Baengnyeong Airport is eight years from 2022 to 2029. The plan is to complete the preliminary feasibility study by the end of this year, proceed with basic and detailed design in 2024, start construction in 2026, and complete the project in 2029.

The Ministry of Land, Infrastructure and Transport stated that by the end of this month, the Korea Development Institute (KDI) will complete the economic evaluation (B/C) of Baengnyeong Airport, and after the policy evaluation (AHP) by the Ministry of Economy and Finance's Fiscal Project Evaluation Committee, the preliminary feasibility study results will be finalized by the end of December.

The total project cost for Baengnyeong Airport, to be built on a 254,000㎡ site in the Solgae district of Baengnyeongdo, is estimated at 174 billion KRW.

The so-called 'airside area,' including the runway and navigation safety facilities, will receive 124.4 billion KRW (71%) in national funding, while the 'landside area,' such as the passenger terminal and parking lot, will be funded by the airport operator, Korea Airports Corporation, with 49.6 billion KRW (29%).

Baengnyeong Airport's project cost is roughly one-quarter that of Ulleung Airport, which began construction in 2020, and considering that the Ministry of Land, Infrastructure and Transport's preliminary feasibility study showed a higher economic feasibility (B/C value), it is expected to pass the preliminary feasibility study smoothly.

Since Baengnyeongdo has seven nationally designated cultural assets and is home to 171 bird species, an environmental impact assessment must be conducted, and measures such as establishing flight procedures to prevent aircraft overflight during airport operation must be prepared.

However, above all, the burden of operating costs after the completion of Baengnyeong Airport is critical. The preliminary feasibility review predicted an annual cost of 4.2 billion KRW, but during the preparation of the preliminary feasibility study, the operating cost calculation criteria were re-examined, and it was tentatively estimated that 2.284 billion KRW would be required.

As most local airports operate at a deficit, and since this is a small airport project (Ulleung, Heuksan, Baengnyeong) where 50-seat aircraft serve island regions, there is a need for policies that can reduce the operating cost burden.

Assemblyman Heo Jongsik said, "Since the completion of Muan International Airport in 2007, domestic island airport development projects such as Ulleung, Heuksan, and Baengnyeong have been continuously promoted, starting with the construction of Ulleung Airport after 13 years as a new airport construction project." He added, "For the success of small airports, it is necessary to consider introducing remote control recommended by the International Civil Aviation Organization (ICAO) for small airports, and to explore various policies to reduce costs, such as development around the airport and duty-free shop projects."