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Incheon Airport and Solidarity Transport Hub jointly about business opportunities associated with STH

Incheon International Airport Corporation (CEO Kim Kyung-Wook, IIAC) announced on the June 30th that it held Market Sounding Conferences for the Polish new airport development project jointly with the Solidarity Transport Hub Poland company (CEO Mikołaj Wild, STH) in Seoul on the June 29th.

Marcin Horała, the government plenipotentiary for the STH, and Mikołaj Wild, CEO of STH, attended the conference.

The STH Project is a large-scale multimodal transport hub project that includes the construction of a new hub airport to take over commercial traffic from existing Warsaw Chopin Airport. The project includes also construction of ca. 2000 km of railways, 400 km of expressways and motorways as well as new airport city.

Once STH is developed, it will be the only hub airport in Central and Eastern Europe (CEE)   capable of handling about 40 million passengers in 2035 and 60 million passengers in 2055.

During conferences held on June 29th, STH SPV and IIAC presented opportunities for the potential engagement of other Korean companies in the STH project. Both sides explored options for joint investment involvement as well as other ways of cooperation on the construction of the Solidarity Airport

IIAC emphasized the joint participation of overseas business with domestic competent companies and held a separate session to have in-depth discussions on the formation of Team Korea.

Since the signing of the Memorandum of Understanding (MoU) in December 2021, both companies have deepened cooperation through a Financial Working Group. Following the progress of the project, STH SPV has initiated a process of selecting a Strategic Operational Partner for the Solidarity Airport with IIAC invited as a participant in the tender. STH SPV and IIAC also continued the implementation of the Strategic Advisor contract (awarded to IIAC in a competitive tender) which has begun in January 2021 and includes both consulting services and trainings.

On June 28th IIAC also hosted Polish-Korean workshop to discuss conditions of its potential engagment as a Strategic Operational Partner for Solidarity Airport. The discussed role would possibly go far beyond providing advisory services and would include direct influence on the STH project.

Through these joint market-sounding conferences, we plan to continue the momentum of IIAC's overseas business by expanding collaboration with STH as well as domestic companies willing to participate in the project. By exporting a K-Airport platform in the European market, IIAC will become the unquestionable global airport operator.

IIAC CEO Kim Kyung-Wook commented:

Meetings we held in South Korea are an important part of the process of choosing the best Strategic Operational Partner as well as financial partner for Solidarity Airport. Due to our cooperation so far and worldwide reputation, Incheon Airport has a special place in this procedure. We have been cooperating with IIAC for 1,5 years as Strategic Advisor and we are open to take this cooperation to the next level. I am glad to see that South Korea is committed to work with us to deliver the biggest Infrastructure investment in CEE region.

STH SPV CEO Mikołaj Wild commented: