Mayor Yoo Jeong-bok: Integration Could Harm Incheon Airport’s Financial Health; Revenue at Risk of Being Diverted to the Gadeokdo New Airport — Politically Driven Consolidation Threatens Incheon’s Interests
Incheon City is strongly opposing discussions to merge Incheon International Airport Corporation, Korea Airports Corporation, and the Gadeokdo New Airport Construction Authority.
On the 18th, Mayor Yoo Jeong-bok posted on social media urging officials to halt the merger, warning it would undermine Incheon Airport’s financial stability and weaken its competitiveness.
Mayor Yoo criticized the proposal, asking, “Is it reasonable policy to require Incheon International Airport — which has maintained its status as a global hub through profitable operations — to shoulder the operating rights for chronically loss-making regional airports and the roughly 10 trillion KRW (about 67 million USD) cost to build the Gadeokdo new airport?”
He also warned that funds needed for infrastructure to expand Incheon Airport could be diverted to other regions.
Incheon calls the integration push “a forcible move driven by political logic rather than economic benefit,” and officials say they take local anger seriously over the prospect that Incheon Airport’s revenues could be diverted to the Gadeokdo project.
Mayor Yoo stressed, “We will never accept such a rushed consolidation, and we will respond firmly to any attempt that harms Incheon’s rights and interests.”
Incheon plans to mobilize all administrative and political resources to ensure the city’s position is fully reflected in interagency talks and in the National Assembly’s legislative process.
“We will not yield Incheon’s future to anyone,” Mayor Yoo said, calling the matter central to the city’s competitiveness and urging close coordination between local stakeholders and the national government.
City officials warn the discussions could seriously undermine Incheon Airport’s financial health and competitiveness, and they emphasize that cooperation between local stakeholders and the national government is essential.
Incheon officials contend the merger is driven more by political logic than by sound economic rationale and say they will use every available tool to defend the city’s interests.
They reiterated that the issue is central to Incheon’s future competitiveness and called for close consultations with the government.
Incheon= Reporter Lee Chun-man lcm9504@viva100.com
Most Commented