Incheon InternationalAirport, Ministry of Land, Infrastructure and Transport
Incheon International Airport’s Lease Terms
(Background) A company has been operating a warehouse within the air freight warehouse in Incheon Airport through a contract due to expire in May 2017. Meanwhile, the company has established a new warehouse near Daegu City to be completed in October 2017.
(Main Issue) While the company wants to extend its warehousing period from the contract expiration date in May until the completion of the new warehouse in October, the Airport stated that it needs to rent out its warehouse vacancy, giving rise to difficulty in concluding the negotiation.
Resoultion and Results
(Resolution) We arranged meetings for the company and the Airport on three occasions in June 2017, submitted a report to the Airport stating the company’s reasons for applying for an extension and issues which may arise should the Airport refuse to grant extension. We also requested cooperation from the Ministry of Land, Infrastructure and Transport.
(Result) Incheon International Airport has decided to divide the warehousing space and grant extension for the space used by the company until October 2017 and rent out the remaining space through open tendering.