Basic Design for the Gadeokdo New Airport Completed, Construction Scheduled to Begin in November

The government plans to begin construction of the site preparation work for the Gadeokdo New Airport in November. The Ministry of Land, Infrastructure and Transport and the Gadeokdo New Airport Construction Corporation said they have received the basic design from the Daewoo Engineering & Construction consortium and will review compliance with regulations and the appropriateness of the project schedule through deliberation by the Central Construction Technology Review Committee. If it passes the review, the detailed design will proceed, and in November, construction of the priority works will begin starting with the sections where the design is completed. Subsequently, fullscale site preparation work is expected to begin in the first half of next year. However, the construction schedule may be affected depending on construction costs. The consortium is requesting an increase of 620 billion won in total project cost, citing rising fuel and material expenses, and some local construction companies have said they will consider withdrawing from the consortium if the increase is not granted. Since the government is still in the stage before the main contract is signed, it is necessary to respond to the demand for cost adjustments.