IIAC Announces its New Global IIAC 2015 Vision

IIAC announced a new vision and management strategy entitled “Global IIAC 2015.”

The Global IIAC 2015 vision encompasses a strategy to strengthen Incheon International Airport's competitiveness as a regional hub and transform IIAC into a truly outstanding airport management corporation. Envisioning a future where IIAC will be a “global airport company leading the world's airport business,” Global IIAC 2015 will strengthen Incheon International Airport's competitiveness, lay the foundation for future growth, improve operational efficiency and safety, and adopt advanced operational systems. These four strategic goals will be implemented through 12 core assignments.

IIAC has followed the Vision 2010 Management Strategy, which was established in 2005, until now and since Vision 2010 becomes obsolete at the end of this year, a new management strategy was drafted in early 2010. This strategy was developed into the Global IIAC 2015 vision that will set the course of IIAC until 2015.

In the previous strategy outlined in Vision 2010, the main focus was to strengthen the competitiveness of Incheon International Airport as a regional hub. On the other hand, the Global IIAC 2015 vision will emphasize improved operational efficiencies, transfer passenger traffic, and overseas projects. Supported by the strong standing of Incheon International Airport as a hub airport, this bold vision highlights the ambitions of IIAC to become a leading airport company in the world.

Mr. CW Lee, President & CEO of IIAC said, “Due to competitive threats from the rapid growth of China's economy and Japan's new hub strategy, we foresee increased competition between airports in the region. Therefore, we need to pursue a more aggressive management strategy in order to seek new growth engines.”

In accordance with the stated goals of the Global IIAC 2015 vision, IIAC will embark on a new structure that will channel efforts into core strategic projects such as the 3rd Phase expansion project, transfer passenger marketing, and overseas airport business.