Hyundai E&C announced on the 30th that it would not participate in the development of the site for the Gadeokdo New Airport due to the government's request to shorten the construction period.
Hyundai E&C noted in a press release that it has endeavored to successfully advance the Gadeokdo New Airport site development project but stated that it is impossible to accept unreasonable demands and conditions to shorten the construction period, which cannot guarantee the safety of the airport due to regional and political interests.
Hyundai E&C emphasized, "We cannot accept the unfair stigma of encouraging delays in national projects and additional public spending for private gain," adding, "The Ministry of Land, Infrastructure and Transport has halted the contract procedures with the consortium, and as the city of Busan and local civic groups are demanding immediate re-bidding and exclusion of our participation in the bidding, we have decided to no longer participate in the Gadeokdo New Airport site development project."
A company official explained that the Hyundai E&C consortium conducted an in-depth technical review over six months, investing over 250 experts and 600 million won in expenses during the basic design process.
Hyundai E&C added, "We derived the minimum appropriate construction period to guarantee safety and quality by meticulously analyzing similar cases such as Kansai International Airport in Japan and Hong Kong's Chek Lap Kok International Airport, as well as the recent incident at Muan Airport," stating that it is a responsible decision considering only the safety of citizens who will use the airport and the success of the national project.
Hyundai E&C announced that it will cooperate in selecting subsequent contractors to minimize project delays and will waive its rights related to the basic design documents, supporting the success of the national project.