Asia and Middle East Joint Expansion... Incheon Airport Partners with Indonesian Airport Corporation

Cooperation for Entry into Airport Business in Asia and the Middle East

Incheon International Airport Corporation is joining hands with Indonesia Airport Corporation (API) to strengthen its overseas airport business expansion in Asia and the Middle East.

On the 15th, at the Incheon International Airport Corporation headquarters, Lee Hak-jae, President of Incheon International Airport Corporation (left), is taking a commemorative photo with Faik Fami, President of Indonesia's API, during the signing ceremony of the agreement between Incheon Airport Corporation and Indonesia's primary airport corporation (API). (Photo by Incheon International Airport Corporation)

On the 16th, Incheon International Airport Corporation announced that it signed a joint cooperation agreement (MOU) with API the previous day at its office in Jung-gu, Incheon.

Accordingly, the two companies plan to strengthen cooperation on the 'Batam Hang Nadim Airport Development Project,' which was signed as a public-private partnership (PPP) investment development project in 2021, and establish a strategic partnership for joint expansion into Asia and the Middle East.

In particular, when expanding overseas businesses in Asia and the Middle East, they agreed to closely cooperate in various airport operation and development projects, such as jointly participating as airport operators or investors.

The Indonesian aviation market is considered one of the fastest-growing markets in the world. It is expected to become the world's sixth-largest aviation market with 270 million passengers by 2034. The Indonesian government is also planning the construction of 62 new airports and the expansion of existing airports.

Lee Hak-jae, President of Incheon International Airport Corporation, said, "Through this agreement, Incheon Airport and API plan to expand their business in Asia and the Middle East based on a strategic partnership," adding, "We will create new business opportunities through cooperation between the two companies and jointly shape the future of the global aviation industry."