Incheon International Airport Corporation is pursuing a proposal to raise the international passenger airport fee from the current 17,000 won to 22,000 won. The aim is to improve the cost recovery rate and secure funding for projects including the T1 renovation.
The corporation announced that it had drawn up a proposal to raise the international passenger airport fee by 30%, from the current 17,000 won to 22,000 won. It is also considering a proposal to raise the fee for connecting passengers from 10,000 won to 15,000 won.
The corporation explained that fees had remained frozen and therefore had not reflected rising prices, and that the cost recovery rate needed to be improved. The cost recovery rate was 44% as of 2024, and the increase is expected to generate approximately 100 billion won in additional annual revenue.
Securing funding for investment is another objective of the increase. Up to 18 trillion won in investment is expected to be required over the next 10 years to maintain competitiveness as a Northeast Asian hub, including the renovation of Terminal 1.
However, procedures including consultations with the Ministry of Land, Infrastructure and Transport and the Ministry of Economy and Finance remain necessary before the increase can be implemented. The government has indicated a policy of freezing major public utility charges, including electricity and gas rates, in the second half of this year, suggesting that implementation will not be easy.