Incheon International Airport Corporation, the first bond issuance this year's 100 billion won

[Korea Seo Hye Rin nine financial newspaper reporter] Incheon International Airport Corporation bonds to 100 billion won for the first time this year: it is procured via the (credit rating AAA). This is the second bond issue is intended to raise funds necessary for the construction, including the passenger terminal, known to be a size 50 billion won increase from the previous year.

It announced that the 28th Incheon International Airport gongsaeun Step 3 (Terminal 2, etc.), breaking the first start issuing bonds to finance the construction of the lack of funds. Currently, Incheon International Airport has added a second spur the passenger terminal building for the facility expansion and international competitiveness of the soaring passenger.

The second passenger terminal building by a large-scale project of a total of 4 trillion won to 930.3 billion including various infrastructure. Gongjeongryul exceeded the current 90% and aims to complete the operational readiness until (mid-March based on 92.5%) in October.

Incheon International Airport Corporation to borrow funds from external and procurement expenses spent on the construction itself. Step (Terminal 1 and so on) and step 21 (Concourse, etc.) each of 40% from, the government during construction, received a treasury support of 35%, Step 3 (Terminal 2, etc.) construction is proceeding without fiscal support .

Borrowings and liabilities of the Incheon Airport Corporation Airport facilities and continues to increase with the expansion, the current debt is 1.95 trillion won, the end of the year is expected to reach approximately 2.7086 trillion won (39% ↑).

In addition, when considering to Step 5 business expenses and operating expenses driven from the mid-2020s more than 4 trillion won in the fourth phase of the project scheduled to take up in earnest from next year undertaking is expected to increase in liabilities of IIA will continue.

Incheon International Airport is facing such externally around a hub airport in Northeast Asia (Hong Kong and Singapore) increased competition, aggressive overseas expansion of the world's leading airport companies. In Korea, according to the tax-exempt business structure changes that were operating around the airport profitability, the recent batch Saad such as reduced demand from passengers, even surrounded by threats, such as increasing the instability of the financial markets.

Incheon International Airport is scrambling to long-term active in new business investment in the future of food prepared. To create a new transit demand was linked to aviation and tourism industry this year is expected to commence operations Paradise City. 2020 development and operation of the surrounding area linkage complex products such as Inspire, and integrated branding in Incheon Airport and the surrounding area by 2030 and announced that enhance target marketing.

In addition, new technology leading the introduction for proceeding with a smart airport, the Northeast through Terminal 2 opened and implemented the world's best business environment, including duty-free shops with overseas airports investments and operations business infrastructure strengthening and diversification, MRO (Aircraft Maintenance) complex compositions Asia also built the aviation industry cluster based on pursuing a systematic master plan.

To reduce the debt to increase in the short term and also continued its own efforts. Unnecessary bulgeup facilities investment adjustments, the introduction of new technologies, the addition of about 153.7 billion won profit a year that savings of approximately 140.8 billion won while commercial facilities and airports around local development, including new business and revenue diversification efforts over the last year as low interest rates, borrowing efforts It was created. As a result, compared to the beginning of the year plan to achieve the outcomes that reduce the debt of 297 billion won (197 billion won will 1,000,000,002,016 years → 9000 billion won loan)

Incheon International Airport Corporation Jeong Ilyoung president said, "The second passenger terminal was completed this year that will maintain a stable financial structure through low-interest loans and debt reduction, revenue diversification efforts."



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