Looking for Operators for the 11 Trillion Won Daegu-Gyeongbuk New Airport Project... Business Briefing in Seoul

Development of Former Sites After Relocation in Gunwi and Uiseong

Daegu City to Select Operators by Year-End

Daegu City will hold a project briefing session on the Daegu-Gyeongbuk New Airport Construction Project at 2 p.m. on the 31st at the Air Force Hotel in Seoul, targeting public institutions, financial institutions, and construction companies.

This briefing session was organized to inform related institutions and companies about the overall project following the enactment of the "Special Act on the Construction of the Daegu-Gyeongbuk Integrated New Airport" in April, aiming to actively promote the project and lead to the successful construction of the new airport.

Daegu Airport located in Jijeo-dong, Dong-gu, Daegu.

Regarding the Daegu-Gyeongbuk New Airport, the 6.71㎢ (approximately 2 million pyeong) military airport will be promoted by Daegu City through a donation and concession method, while the 0.27㎢ (approximately 50,000 pyeong) civilian airport will be directly constructed by the Ministry of Land, Infrastructure and Transport as a financial project.

For Daegu City to build the military airport through the donation and concession method, it is necessary to select a project agent (joint investment corporation) that will construct the military airport with a project cost reaching 11 trillion KRW on behalf of Daegu City and develop the previous site.

Accordingly, the briefing session is expected to be attended by about 200 people, including major public institutions such as LH, Korea Airports Corporation, and Daegu Urban Development Corporation, which can participate as project agents, more than 20 financial institutions, the top 50 domestic construction companies, and regional construction companies.

At the briefing session, Daegu City will explain the project overview of the Daegu-Gyeongbuk New Airport, the procedures for each project, the project promotion structure, the composition of the project agent, the future schedule, and the Special Act on the Daegu-Gyeongbuk Integrated New Airport, followed by a Q&A session.

During the Q&A session, Daegu City plans to enhance understanding of the project structure and direction of the Daegu-Gyeongbuk New Airport Construction Project by answering questions received in advance from related institutions.

According to the "Special Act on the Construction of the Daegu-Gyeongbuk Integrated New Airport," Daegu City plans to select a joint investment corporation led by the public sector as the project agent. This joint investment corporation must be composed with the public implementer holding more than 50% of the shares, while the remaining shares can be held by private participants.

The city plans to complete the selection of the project agent by the end of this year and will strengthen communication with various institutions, including domestic public institutions, financial companies, construction companies, and overseas investors wishing to participate, by holding additional project briefing sessions in the future.

In June, a separate project briefing session will also be held for companies in the Daegu-Gyeongbuk region.

Lee Jong-heon, Head of the New Airport Construction Headquarters, said, "With the enactment of the Daegu-Gyeongbuk New Airport Special Act, the risks for the project agent have been significantly reduced, so active participation and interest from both the public and private sectors are necessary," adding, "Daegu City will do its utmost for the success of the Daegu-Gyeongbuk New Airport construction and the development of the previous site, which is a large-scale national project beyond the region."