생명과 태양의 땅 충북 Chungbuk CBfez

Overview of the development

• Rising status as a gateway airport to Sejong-si and a hub airport in the Jungbu region
• Increasing necessity to create an aerospace industrial cluster
• Necessity to secure, in a timely manner, key technologies for the knowledge-based industry suitable for developed countries

Development figures

• Location : all over Naesu-eup, Cheongju-si, Chungcheongbuk-do
• Size : 545,162㎡
• Project cost : 146.6 billion won
• Project period : 2013 – 2022

Investment merits

Cheongju International Airport as a hub airport in the Jungbu region

• Gateway airport to Sejong-si, the country’s de facto second capital, and a hub airport in the Jungbu region
• The only airport serving cargo-only flights outside the Seoul metropolitan area, and a hub for low cost carriers in Northeast Asia

Center of transportation and logistics, accessible within two hours across the country

• Network of expressways connecting all directions: four routes from north to south and three from east to west.
• X-shaped HSR network: Osong KTX Station (the only HSR junction station) within forty minutes distance to Seoul.
• Electrified railroad network: Prospective projects for connecting to the electrified railroad network of the Seoul metropolitan area (Seoul to Cheongju International Airport) and for building a light rail line (Daejeon to Cheongju International Airport) are being worked on.
• Conventional railroad network: the Chungbuk Line, the Jungang Line, the Taebaek Line, and the Jungbu Naeryuk Line. (under construction)

MRO hub to lead the aerospace industries of Northeast Asia

• Until 2021, the Asian aerospace market is expected to grow at an annual average rate of 6.8%, in contrast with 3.9% for the global market.
  • The rapid growth of Asian low cost airlines is expected to result in an increase in the demand for MRO services for medium to large planes (Frost & Sullivan).
• The airport sits at the best strategic location in the aviation MRO industry, capable of minimizing turnaround time.
  • Capable of providing logistics services for a broad range of aircraft components and minimizing turnaround time
• Specialized for the comprehensive aviation MRO services of Korea
  • Designated as an aviation MRO pilot site in 2009
  • Mentioned as a favorable hub for aviation MRO in 2010
  • Accommodates businesses specializing in aviation (LG International Corp. and Sungwoo Engineering)

Optimal place for convergence-based aviation industry of the future

• Available in the vicinity are ICT and solar power clusters as well as the largest R&D facilities within the country.
• The Daedeok Research Complex, the Ochang Science and Industry Complex, Osong BioValley, the Asia Solar Valley, and the International Science and Business Belt