A 150 billion won ($111 million) aviation maintenance, repair and overhaul (MRO) cluster will be built at the Yeongjong Aviation General Industrial Complex in Yeongjong International City, Incheon.
Once fully operational, the facility is expected to handle maintenance for more than 500 engines annually by 2031 and create over 2,000 specialized jobs.
The Incheon Metropolitan Government signed an investment and move-in agreement Wednesday with the Incheon Free Economic Zone Authority, Yeongjong-gu District Office, Korea Land and Housing Corporation, Incheon Urban Corporation and Korean Air at the G-Tower in Songdo to establish the Korean Air Aviation MRO Cluster.
The agreement follows the project plan's approval by the Industrial Location Deliberation Committee last May.
The parties plan to complete move-in and land sale contracts within three months.
Under the plan, Korean Air will invest 150 billion won to construct engine and component maintenance facilities and supporting infrastructure with a total floor area of 101,151 square meters on a 50,692-square-meter site within the Yeongjong Aviation Industrial Complex.
Groundbreaking is scheduled for January 2029, with completion targeted for December 2031. The site sits adjacent to Incheon International Airport and Korean Air's existing engine test cell in Unbuk-dong, which is expected to generate significant infrastructure synergies.
Once the cluster is completed, Yeongjong's aviation industry is expected to undergo a major transformation toward higher value-added operations.
The Incheon Free Economic Zone Authority projected that annual engine maintenance volume would increase roughly 5.7-fold by 2031, rising from the current 88 units to 502.
"This agreement marks the transition of the MRO cluster project into full implementation," an Incheon city official said. "We will spare no administrative support to help Incheon emerge as a world-class aviation industry hub."
gilbert@heraldcorp.com
