By: Embassy of the Republic of the Philippines, SEOUL

11 April 2024, Incheon - Philippine Ambassador to the Republic of Korea Theresa Dizon-De Vega called on Incheon International Airport Corporation (IIAC) CEO Lee Hag Jae on 11 April 2024 at the IIAC headquarters in Incheon, Republic of Korea.

Ambassador Dizon-De Vega congratulated IIAC CEO Lee for winning the bid for the Manila Ninoy Aquino International Airport Development and Operation PPP Project (Private Investment Project) as part of a consortium with San Miguel Corporation-SAP and local financial investors in the Philippines. A development and operation project that will take place over 25 years until 2049, the project is expected to massively modernize and transform the Philippines' main International Airport.

The Ambassador conveyed that the Philippine government recognizes the need for experts to work on this massive undertaking and looks forward to IIAC's expertise, especially in pursuing terminal expansion and airport operation optimization. The airport modernization is expected to raise airport capacity to 62 million passengers annually, from its current 35 million. It is likewise expected to contribute to improving global air traffic once completed.

Ambassador Dizon-De Vega likewise conveyed that the Philippine airport modernization is a priority project of Philippine President Ferdinand Marcos, Jr., under the administration's "Build Better, More"! Program.

For his part, CEO Lee welcomed the Ambassador's warm words and looked forward to working with the Philippine government, private sector partners, and the Embassy on this project. CEO Lee assured that the IIAC will send its best technical experts to the Philippines to work on the airport modernization project.

IIAC CEO Lee was joined by Mr. Chaiwoo Lee, Executive Director of Overseas Business Group, and Ms. HyesongLim, Senior Manager of Overseas Business Group. Ambassador Dizon-De Vega was accompanied by Third Secretary and Vice Consul Reisha Olavario.

The Incheon International Airport Corporation (IIAC) was established to efficiently build, manage, and operate the Incheon International Airport. A world-class airport corporation, the IIAC streamlines air transportation and also provides technical expertise in building and managing airports overseas. END