Seosan Airport Project Fails Preliminary Feasibility Study... Ministry of Land, Infrastructure and Transport States "Commitment to Proceed Remains Unchanged"

On the 9th, the Ministry of Land, Infrastructure and Transport stated that despite the Seosan Airport project in Chungnam failing to pass the preliminary feasibility study, "the will to proceed with the project remains unchanged."

Ministry of Land, Infrastructure and Transport / Photo by Hyunmin Kim kimhyun81@

Seosan Airport is a project to construct civil aviation facilities such as a passenger terminal by utilizing the runway and other facilities of the Seosan County Airfield to improve air traffic convenience in the Chungnam West Coast area. The project cost is approximately 53.2 billion KRW.

This project was included in the "5th Mid-to-Long-Term Comprehensive Airport Development Plan (2016?2020)" and underwent a preliminary feasibility study before the Korea Development Institute began the preliminary feasibility study in December 2021.

However, at the Ministry of Strategy and Finance’s Fiscal Project Evaluation Committee meeting held on the same day, the project was confirmed to lack feasibility. The benefit-cost ratio (B/C) was 0.81, below the standard value of 1, and the comprehensive evaluation (AHP) was below 0.5.

A Ministry of Land, Infrastructure and Transport official said, "The Seosan Airport project is necessary to expand the aviation network, which is being promoted as a national agenda, and to fulfill regional pledges," adding, "We plan to analyze in detail the reasons for failing the preliminary feasibility study and review future plans for advancement."