Korean firm Jipyong Jisung is advising a consortium led by Incheon International Airport Corp. on a successful bid to build a $1.1 billion airport in Myanmar.
Incheon Airport, along with partners Hyundai Engineering Construction, Kumho Kumho Industrial Co., Ltd., Halla Engineering and Construction, and Daewoo International Corp., beat out six other multinational consortiums to win the contract from Myanmar’s Department of Civil Aviation.
According to media reports, details of the contract are still under negotiation but they are expected to be finalized by the end of the year. The airport will be located in Myanmar’s largest city and former capital Yangon and is expected to be able to handle as many as 12 million passengers a year when it is finished in 2018.
Seoul-based partner Cheol Jeong led the Jipyong Jisung team acting for Incheon. The Korean firm was the first foreign law firm to open in Myanmar when it launched a Yangon office last year. The 125-lawyer firm also has offices in Shanghai, Ho Chi Minh City, Hanoi, Vientiane, Phnomh Penh, and Jakarta.