The Daewoo Engineering consortium has commenced the design phase for the Gadeokdo New Airport site development. With the government preparing support measures to account for rising construction costs, the project is expected to gain momentum.
According to Daewoo Engineering, the consortium began the 180-day design phase on November 9. The government and the consortium plan to advance the design and subsequent procedures with a target opening date of 2035.
Earlier, the Ministry of Land, Infrastructure and Transport sent a letter to Daewoo Engineering on November 3, requesting the start of the design phase. The ministry acknowledged that the surge in construction costs due to the Middle East conflict constitutes an unavoidable circumstance, and that the estimated increase in costs is beyond what the contractor can bear.
In response, the government plans to quickly propose amendments to the Gadeokdo New Airport Act in consultation with financial authorities to reflect the increased construction costs and push for its passage in the National Assembly. Even if the legislative review is delayed or withdrawn, the government intends to devise separate measures to account for inflation.
To ensure that the contractor initiating the design phase does not face disadvantages, discussions on supporting design costs will also take place. The government aims to proceed with the design independently of the related legislative process to prevent delays in the overall project schedule.
A Daewoo Engineering official stated, "We plan to proceed with the design phase based on the government's willingness to support and the contractor's expertise, and we expect to commence the main construction on time following the 180-day design period."
* This article has been translated by AI.
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