Terminal 1 of Incheon International Airport is crowded with outbound travelers, May 6. Newsis By Lee Hae-rin Incheon International Airport will become the world's third-largest airport once its fourth phase of development is completed by the end of this year, potentially accommodating over 100 million international passengers annually, its operator Incheon International Airport Corp. (IIAC) announced, Wednesday.
According to IIAC, the airport’s second passenger terminal (T2) expansion, a seven-year-long 4.8 trillion won ($3.5 billion) project that started in 2017, is 95.
34 percent complete as of April. In November at its earliest, Incheon International Airport looks forward to holding the “second grand opening” since its establishment in 2001. With the completion of this expansion, the airport will be capable of handling up to 106 million passengers annually across its two terminals.
This will make it the third-largest airport in the world in terms of passenger throughput, just behind Dubai International Airport and Istanbul Airport. The figure represents a 37.6 percent increase from the current level of 77 million.
The development comes amid the expansion of neighboring international air hubs. Hong Kong International Airport, Singapore Changi Airport, Shanghai Pudong International Airport in China, and Japan’s Narita International Airport are all under construction to expand their facilities to accommodate some 130 million yearly international passengers once complet.