Gadeokdo New Airport gets back on track after a halt, with detailed design work launched toward a 2035 opening

[Financial News] The Gadeokdo New Airport construction project, whose subsequent procedures had been suspended over the issue of increased construction costs, is picking up pace again with the start of detailed design work. The government plans to proceed with the design first, separately from amending the law to bring construction costs in line, in order to meet its target of opening the airport in 2035. The key schedule calls for signing a contract for early works within this year and starting main construction in the first half of next year.
The Ministry of Land, Infrastructure and Transport and the Gadeokdo New Airport Construction Corporation said on the 9th that they had begun detailed design work after consultations with the Daewoo E&C consortium, the prospective sole-source contract awardee for the Gadeokdo New Airport site preparation project.
The Gadeokdo New Airport site preparation project was deemed qualified in the basic design review last September, but subsequent procedures, including price negotiations for early works, were temporarily suspended because of rising construction costs stemming from the Middle East war. The difficulty of reflecting increases in raw material prices and construction costs in the existing contract terms had become an obstacle to moving the project forward.
The Ministry, the Corporation and Daewoo E&C agreed that there must be no further delays to the start of main construction or the airport’s opening schedule, and decided to proceed with detailed design work first, separately from negotiations over construction costs.
The government is also pursuing an amendment to the Gadeokdo New Airport Act to allow inflation caused by the Middle East war to be reflected in construction costs. Related consultations are underway with the aim of passing the amendment in the National Assembly within this year, and the government plans to sign the early-works contract before the end of the year in conjunction with the legal amendment.
The detailed design work will take 180 days from its start date. The Ministry and the Corporation aim to begin main construction in the first half of 2027, after completing the design and carrying out subsequent procedures, including a review of its adequacy.
Gadeokdo New Airport is a key national project intended to strengthen air-cargo competitiveness in Busan and the Southeast Region of Korea and support balanced national development. It is also expected to help establish an integrated air and sea logistics infrastructure linked to the Port of Busan, in preparation for increased use of the Northern Sea Route (NSR).
However, as the amendment to bring construction costs in line and the early-works contract have yet to be finalized, future National Assembly discussions and the outcome of price negotiations remain major variables in the project schedule. The government plans to proceed with the project by advancing the design and subsequent procedures in parallel, ensuring that the 2035 opening target stays on track.


[email protected] Kim Dong-ho Reporter