CEO VISION
different organisation now to the one we were three years ago.”
Going forward, Lee’s short-term vision for Incheon is outlined in the airport’s ‘Global IIAC 2015’ master plan.
The plan hinges around Incheon Airport becoming a leading global operator, and the addition of a second terminal as part of the $4.1 billion third phase expansion of the airport that is designed to ensure that it maintains its reputation as one of the world’s most operationally efficient and user-friendly gateways. Lee explains: “The aim of our new, mid-term management
strategy, Global IIAC 2015, is to enhance Incheon’s status as a leading Northeast Asian hub and become a market leading global airport company. The latter objective, of course, is something that we can only achieve by entering the overseas airport business. “Passenger traffic through Incheon continues to grow, and one of the ways that we can ensure that this continues long into the future is to increase the amount of transfer traffic we handle. Transit passengers currently represent around 18% of all passengers at the airport, and we continuously strive to increase this figure. We also plan to increase our appeal to the emerging low-cost carriers of South Korea and Southeast Asia.
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“The establishment of a high-value-added logistics base will increase our competitiveness and status as Northeast Asia’s leading cargo hub.
“In addition to enhancing our facilities and attracting new airlines and cargo operators, a key goal of the new business strategy is to further improve the operational efficiency of the airport while remaining environmentally friendly and maintaining optimal safety and security levels. “We also aim to strengthen our position as a global airport leader by developing profitability, enhancing new revenue sources both on and around the airport site and overseas.” Lee adds that “building an advanced management system; fostering the training and development of talented personnel; and establishing an open corporate culture will further help Incheon’s transformation into a global airport company”.
The new $1.4 billion terminal will be located at the northern end of the airfield and boast an initial capacity of 18 million passengers per annum when it opens in 2015. The contract to design Terminal 2 is currently out to
tender, with a host of big names bidding for it. The airport already has planning permission from the government to build the 350,000sqm terminal and started foundation work on the complex in 2010.
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