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Investment Guide
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Investment Conditions for Incheon International Airport Idle Land

슬라이드1
슬라이드2
  • Development Method (BOT) : The land is owned by the Corporation, and facilities are developed and operated by private investors with the facilities being transferred to the Airport Corporation at no cost after the land use period.
  • Land Use Fee : 5% of the publicly announced land value (Additional proposals and exemptions are subject to separate negotiations.)
  • Land Use Period : Within 50 years of the start of operation (Extension conditions are subject to separate negotiations)
  • Related Legal Basis
    • Metropolitan New Airport Construction Promotion Act
    • Special Act on the Designation and Management of Free Economic Zones
  • Proposed Facilities : Proposed as airport support facilities under the Metropolitan New Airport Construction Promotion Act and the Aviation Act (Height Restriction EL 52 m)
  • Procedure for Project Operator Selection (For detailed information, please consult with the Corporation) : Public announcement for project operator recruitment > Proposal submission > Evaluation and selection of preferred negotiation target > Execution of implementation agreement > Designation of project operator > Design, permits, and construction execution

Procedure for Incheon International Airport Idle Land Project Implementation

Project Implementation Procedure Under the Law

주요사업-비즈니스 허브-복합도시개발-인천국제공항 유휴지 사업추진절차-법률에 따른 사업추진절차 - 수도권 신공항 건설 촉진법
Metropolitan New Airport Construction Promotion Act
Establishment of Basic Plan for New Airport Construction Article 4, Minister of Land, Infrastructure, and Transport
Notice of Basic Plan Article 4-3, Minister of Land, Infrastructure, and Transport
Designation of Project Operator Cooperation Regulations and Act on Public-Private Partnerships in Infrastructure
Designation of Developer Article 6, Minister of Land, Infrastructure, and Transport
Approval/Notice of Implementation Plan Article 7, Minister of Land, Infrastructure, and Transport Related Approvals and Licenses (Article 8, Paragraph 1): 25 Relevant Laws
Construction Project Implementation Developer
Completion Confirmation Article 12-2, Minister of Land, Infrastructure, and Transport
Operation Developer
주요사업-비즈니스 허브-복합도시개발-인천국제공항 유휴지 사업추진절차-법률에 따른 사업추진절차 - 경제자유구역법
Special Act on the Designation and Management of Free Economic Zones
Consultation on Project Implementation Conditions and Implementation Agreement Incheon International Airport Corporation (or Ministry of Land, Infrastructure, and Transport)
Establishment of Development Plan for Modified Plan (Article 4 of the Act) (Including Development Plan and Project Implementation Area) Developer (in consultation with the Ministry of Land, Infrastructure, and Transport, Incheon City, and Airport Corporation)
Request for Change of Development Plan for Free Economic Zone Developer → Incheon Free Economic Zone Authority
Application for Change of Development Plan for Free Economic Zone Incheon Free Economic Zone Authority → Ministry of Trade, Industry, and Energy
Review by the Free Economic Zone Committee Ministry of Trade, Industry, and Energy
Public Notice and Viewing (Official Gazette) Ministry of Trade, Industry, and Energy
Basic and Detailed Design Developer
Approval of Implementation Plan (Within 2 years of notice) (Article 9 of the Special Act on the Designation and Management of Free Economic Zones) Permit Application: Developer Permit Approval: Separate Implementation of Environmental Impact Assessment

by the Ministry of Trade, Industry, and Energy
Commencement and Execution of Construction Developer
Completion of Construction (Article 14 of the Special Act on the Designation and Management of Free Economic Zones) Ministry of Trade, Industry, and Energy
Operation Developer

Comparison of the Two Laws

주요사업-비즈니스 허브-복합도시개발-양 법률비교 - 구분, 수도권 신공항 건설 촉진법, 경제자유구역법
Category Metropolitan New Airport Construction Promotion Act Special Act on the Designation and Management of Free Economic Zones
Purpose Address aviation demand in the metropolitan area Promote foreign investment
Designating Authority Minister of Land, Infrastructure, and Transport Minister of Trade, Industry, and Energy
Developer State, Local Government, Incheon International Airport Corporation, Government-Invested Institutions, Private Investors No restrictions
Development Purpose Airport core and support facilities Determined by implementation plan approval content
Incentives Deemed approval of permits / Land expropriation Tax and fee exemptions for foreign investors

Project Implementation Procedure Under Related Regulations

주요사업-비즈니스 허브-복합도시개발-관련규정에 따른 사업추진절차 - 사업시행자 모집공고 방식, 투자자 제안방식
Public Announcement of Project Operator Recruitment Investor Proposal Method
Basic and Implementation Plan for Investment Attraction Projects Consultation on Proposal / Submission of Project Plan
Public Announcement for Project Operator Recruitment
(Announcement of Land for Lease, Applicant Qualifications, Lease Fee, and Lease Period)		 Review and Evaluation of Project Plan (Article 23 of Detailed Criteria)
Holding a Project Briefing (Explanation of Project Conditions, Guidelines for Preparing a Project Plan) Public Announcement for 3rd-Party Proposal Recruitment (If necessary) (Article 23 of the Detailed Criteria)
Receipt and Evaluation of Project Plan (Formation and Operation of Evaluation Committee – Priority for Negotiation) Receipt and Evaluation of Project Plan (Article 23 of the Detailed Criteria)
※ First proposer additional points (within 10%)
Execution of Implementation Agreement and Designation of Project Operator (After negotiation, execution of implementation agreement) Selection of Preferred Negotiation Target and Negotiation (Articles 16, 17, and 18 of the Detailed Criteria)
Designation of Developers (Article 6 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport) Execution of Implementation Agreement and Designation of Project Operator (Article 20 of the Detailed Criteria)
Approval of Implementation Plan (Article 7 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport) Designation of Developers (Article 6 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport)
Construction Project Implementation Approval of Implementation Plan (Article 7 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport)
Completion (Article 12-2 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport) Construction Project Implementation
Occupancy Inspection Completion (Article 12-2 of the Metropolitan New Airport Construction Promotion Act, Minister of Land, Infrastructure, and Transport)
Operation Operation
Rules on Contractual Affairs for Public Corporations and Quasi-Government Agencies, Incheon International Airport Corporation’s Special Provisions for Lease Projects
Inquiries
  • Telephone : +082-32-741-4483
  • Managing department : Airport City Development Team
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