KAC, Hyundai E&C ink $983M deal to revamp Kyiv Int'l Airport

Industry

Published: 13 Nov. 2023, 17:55 Updated: 13 Nov. 2023, 18:12

KAC, Hyundai E&C ink $983M deal to revamp Kyiv Int'l Airport

Officials from Korea Airports Corporation, Boryspil International Airport Corporation, and Hyundai Engineering & Construction pose for a photo after signing an MOU for the expansion of Ukraine's airport infrastructure during a ceremony held in Warsaw, Poland, on Sunday. [KOREA AIRPORTS CORPORATION]

Korea Airports Corporation (KAC) and Hyundai Engineering & Construction (Hyundai E&C) inked a 1.3 trillion won ($983 million) memorandum of understanding with Ukraine's Boryspil International Airport Corporation for the reconstruction and expansion of the terminal and runway at Kyiv International Airport.

The three-way agreement involves sharing business information and exploring joint projects to facilitate the restoration of the Boryspil International Airport, Ukraine's largest aviation gateway.

Under the MOU, the Boryspil airport authority will commit to providing project information and support to ensure seamless operations during the reconstruction.

The KAC, which oversees operations at 14 airports across Korea excluding Incheon International Airport, brings to the table airport operation consulting, international education and training, as well as its safety equipment. Meanwhile, Hyundai E&C has been put in charge of design, procurement, and construction responsibilities for the project.

“Our goal is not only to assist in the recovery of Boryspil Airport but also to elevate its infrastructure to a higher standard,” said KAC CEO Yoon Hyeong-jung, adding, “it will set the stage for Korea's airport operational expertise to enter the Eastern European region.”

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]