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IIAC Joins Hands with Indonesia's AP1 to Expand Overseas Business
Exploring Business Opportunities Overseas
IIAC Joins Hands with Indonesia's AP1 to Expand Overseas Business
  • By Choi Moon-hee
  • August 16, 2019, 13:53
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Koo Bon-hwan (right), president of Incheon International Airport Corp. (IIAC) shakes hands with Faik Fahmi, president of AP1 after signing an MOU to cooperate in exploring overseas business opportunities.

Incheon International Airport Corp. (IIAC) announced on Aug. 15 that it has signed an MOU with Indonesia's largest airport corporation PT Angkasa Pura 1 (AP1) to promote cooperation in exploring overseas business opportunities.

AP1 is 100 percent owned by the Indonesian government. It operates 14 airports in central and eastern Indonesia, including Bali Airport. It is a leading airport operating group in Indonesia with five subsidiaries specializing in logistics, development of airport areas, commercial facilities operation and airport maintenance.

Based on the MOU, the two companies plan to upgrade their cooperative ties to a strategic partnership and join forces to participate in Indonesian airport development projects and overseas airport projects.

IIAC has successfully carried out five projects in Indonesia including the Surabaya Airport Commercial Consulting Project (2015) and the Jakarta Airport T3 Commercial Consulting Project (2017).

In particular, in December last year, IIAC signed an education consulting contract worth 570 million won with AP1 and transferred its global airport management know-how to over 500 employees at 14 airports in Indonesia.