With this deal, KAC will reportedly become the first in Korea to attain long-term operational right for a foreign airport. Credit: IvaCastro from Pixabay.

Korea Airports Corporation (KAC) has obtained the long-term operational right for Manta Airport in Ecuador for a period of 30 years.

This comes after the Ecuador’s President Lenin Moreno officially sanctioned an executive order delegating Manta Airport’s operational right to KAC.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

In May 2019, Prime Minister of the Republic of Korea Lee Nak-yon formally submitted the Manta Airport operation project proposal during his visit to Ecuador.

A contract between the KAC and the Ecuadorian Government is slated to be signed at the end of next month.

The $481m (KRW540bn) contract will provide the Korean firm with the full ownership of the airport and the incorporation for the following 30 years (2021-2050).

The scope of works will include operating and managing the airport facilities, including runway, passenger terminal, and apron.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Notably, Manta Airport is set to be the first foreign airport to be operated by KAC. Currently, the firm operates around 15 airports.

KAC CEO Chang-wan Son said: “This project is significant as Korea successfully paved the way into the global market for overseas airport operation, predominated by other leading airport operators.

“We will make continued efforts to enter into new global markets by promoting our expertise in airport operation and outstanding smart airport technologies to contribute to G2G cooperation and economic development.”

KAC has been involved in overseas businesses, such as aviation professional training programme in Paraguay, drone navigation consulting in Latin America and airport operation consulting for six Columbian airports since 2010.

In 2019, KAC secured a construction deal for Peru’s Chinchero new Airport.

Airport Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Airport Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
HID has won the Biometric Gate Innovation Award for its BG100 Speedgate a next generation eGate combining HID® Facepod™ with ASSA ABLOY’s Speedgate. Discover how HID is redefining airport passenger processing with faster, contactless and secure biometric journeys from curb to gate.

Discover the Impact