Incheon International Airport Corporation (IIAC) was established in 1991 to operate the Incheon International Airport in Incheon, South Korea.
The Department of Transportation issued the P170.6-billion NAIA public–private partnership project 'Notice of Award' to SMC-SAP &amp; Co. Consortium (San Miguel Holdings Corporation, RMM Asian Logistics Incorporated, RLW Aviation Development Incorporated, and Incheon International Airport Corporation) on February 16, 2024. On March 18, 2024, Marcos Jr. and Ramon Ang’s consortium (San Miguel Corporation) signed the $3-billion 15 years public–private partnership concession agreement for NAIA rehabilitation. The operations and maintenance of the airport will be turned over to the Concessionaire in September 2024. The Consortium forthwith made the P30-billion upfront payment to the government.
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