In 1992, the city of Busan released an urban plan which discussed the need for a new airport in the region. In 2002,
Air China Flight 129 crashed into Mount Dotdae near Gimhae International Airport in Busan, which accelerated discussion about a new airport located away from mountainous areas. By 2012, the government under
Lee Myung-bak abandoned plans to pursue a new airport in the region. This decision was challenged by then presidential candidate,
Park Geun-hye, who stated a new airport was essential. A debate began amongst cities such as Busan and
Daegu about the location of a new airport. The plans included construction of South Korea's first
floating airport which would be located both on the land and sea off the island of Gadeok with a proposed opening in 2035. Construction is estimated to be over ₩13.7 trillion
won (
US$10.64 billion). Opening of the second runway was scheduled for 2031. In April 2025, it was announced that construction of the airport would be delayed following the withdrawal of
Hyundai Engineering & Construction from the project. Revised estimates placed the airport’s opening between 2035 and 2040. The airport’s opening was then projected for 2035. In December 2025, the projected cost of the airport increased from ₩10.5 trillion won to approximately ₩10.7 trillion won. On December 29, a bid notice was issued for construction companies, with a submission deadline of January 16, 2026. By February 2026, two rounds of bidding for the site development had been completed. The second round was declared unsuccessful due to a lack of competition, as only one consortium submitted a bid. Under Korean public procurement law, competitive bidding requires at least two separate bidders. The Gadeokdo New Airport Construction Authority then began reviewing whether to issue a third public notice or proceed with a negotiated contract. ==Design==