A second terminal will be built at Incheon International Airport in Seoul Korea as part of its plans to expand. The second terminal will allow for 46 million more passengers annually.

When the South Korean government decided in the early 1990s to build a new international airport for the Seoul area, it made a huge bet by filling in land between two islands off the nearby coastal city Incheon. Now Incheon International Airport has been in operation for 10 years and has been a boon for the nation. Envisioned chiefly as South Korea's main airport, it has taken advantage of its good fortune of geography to become a connecting point for millions of Japanese and Chinese travelers.

“We are easily the northeast Asia hub compared to China or Japan,” said Chief Executive C.W. Lee. “We have flights to 33 cities in China and 28 in Japan. The local people in those cities, if they want to go to Europe or North America, can save time and money if they use Incheon Airport.”

Lee said he hopes construction on the second terminal will complete by the end of 2016, in time for the Winter Olympics hosted in Pyong-chang. The state-owned firm will finance the project through loans and its own profit margin. Expanding abroad as well, it has also invested in the Vladivostok airport, planning to consult, participate in equity, and begin a construction project there.