South Korea plans to build $3.5B second airport on Jeju island

South-of-Jeju

South Korea has reportedly revealed plans to build a $3.5 billion airport on Jeju island, in a bid to meet the increasing passenger traffic. Korean Land and Transport Ministry as saying that the new airport with one-runway will be constructed on the eastern part of the island.

The ministry also added that the project is expected to be completed as early as 2025.

The visa-free island has seen an increase in the number of Chinese tourists visiting the place. Around 2.9 million Chinese passengers had visited the island in 2014, up by 58% compared to 2013 figures.

Furthermore, tourists can visit the island in one hour by flight from Shanghai and from Beijing, China, in 2.5 hours, according to the news agency.

Currently, the island is served by Jeju International Airport, which is located on the northern shore of Jeju.

The airport, which is claimed to be the country’s second busiest after Seoul’s Incheon airport, handled 23.2 million passengers in 2014.

Over the recent years, the airport has seen rise in passenger volume due to a number of flight routes offered by low budget airlines.

In 2012, the airport completed a $284 million renovation project that involved upgrading the domestic departure terminal, expanding the runways and parking lot, construction of an international terminal and expanding the new domestic terminal by 23,000 sqm.

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