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KOREA AIRPORTS CORPORATION EYES BUSINESS OPPORTUNITIES IN PH

(L-R) Mr.Phil Shin, KAC Global Business Team Manager, Ms.Catalina Song, Manager, KAC Global Business Team, Director Youn Sang Gyu of the KAC Global Business Department, Philippine Ambassador to Korea Raul S. Hernandez, Consul General Christian De Jesus, Commercial Counsellor Emmanuel Ang of the Philippine Trade and Investment Center and Attache Jhoanna Jarasa.

SEOUL, 25 APRIL 2017 ?A delegation from the Korea Airports Corporation (KAC) led by Director Youn Sang Gyu met with Philippine Ambassador to Korea Raul S. Hernandez on 24 April 2017 to convey the KAC's interest to participate in Public-Private Partnership (PPP) projects related to the upgrading of 5 regional airports in the Philippines. Ambassador Hernandez was joined at the meeting by Consul General Christian De Jesus, Commercial Counsellor Emmanuel Ang and Attache Jhoanna Jarasa.

KAC is a globally recognized corporation based in Korea that specializes in the construction, management and operation of airports and is currently the world's 3rd largest air control devices manufacturer. KAC operates 14 regional airports in Korea including Gimpo airport and has successfully developed its own aviation IT technologies such as the DVOR (Doppler Very High Frequency Omni Range), FIS (Flight Information System), and RFID (Radio Frequency Identification). The KAC is currently conducting cutting-edge research on an automatic dependent surveillance-broadcast (ADS-B) system, a next-generation GPS technology for tracking aircrafts and has exported its aviation technologies to 16 countries including the Philippines.

During the meeting, Director Youn conveyed to Ambassador Hernandez the keen interest of KAC to bid for management and operation rights for 5 unbundled regional airport contracts under the Philippine government's Public-Private Partnership (PPP) scheme. This is in relation to invitation issued by the Department of Transportation (DoTr) on 25 January 2017 for prospective investors to pre-qualify and bid for 5 airport development, operation and maintenance projects, namely: Bacolod-Silay, Davao, Iloilo, Laguindingan in Mindanao and Bohol (Panglao) worth Php108.18 billion.

In his remarks, Ambassador Hernandez stated that the "Philippine Embassy welcomes the avid interest of KAC to participate in the bidding given KAC's excellent track record in airports management". Ambassador Hernandez expressed hope that "if the KAC succeeds in its bid, the KAC would be able to contribute its technological expertise in developing and upgrading the Philippines' 5 regional airports as the KAC is known for ensuring the efficiency and timelines of flights at regional airports it oversees and manages".

According to the timetable of the DOTr, the notice of award is expected to be issued to the winning concessionaire on 18 January 2018. The notice of award grants the concessionaire the right to develop, operate and maintain the 5 regional airports in the Philippines for 30 years.

-END-

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