Lee Jae-myung Expresses Regret Over Hyundai Construction's Withdrawal from Gadeokdo Airport Project and Unveils K-Battery Policy

On May 31, 2025, Lee Jae-myung, the presidential candidate from the Democratic Party of Korea, expressed his disappointment regarding Hyundai Construction's decision to withdraw from the Gadeokdo Airport site development project. In a Facebook post, he noted that Hyundai Construction exited the consortium just as a contractor was about to be finalized after four failed bids. He acknowledged the frustration of Busan citizens who are eager for the airport's opening, especially after Hyundai's announcement was attributed to government demands for a shortened construction timeline.

Lee emphasized that the responsibility for advancing the Gadeokdo Airport project now lies entirely with the new government. He pledged to thoroughly investigate the issues that have arisen thus far and ensure that the project progresses swiftly. He reassured that the Democratic Party, which initiated the Gadeokdo Airport project, would take full responsibility for its advancement.

In addition to addressing the airport project, Lee also announced a new policy for the K-Battery (secondary battery) industry, highlighting its significance as a cornerstone for South Korea's economic leap. He stated that the K-Battery sector would be a central focus of the K-Initiative aimed at leading the global market.

To secure a technological edge, Lee promised to enhance research and development (R&D) efforts, particularly in solid-state battery technology, from demonstration research to commercialization, with strong government support. He also mentioned plans to expand R&D for next-generation battery technologies, including mid-nickel and sodium batteries.

Furthermore, he proposed the introduction of domestic production incentives to stimulate local investment and manufacturing, along with a review of carryover deductions and criteria adjustments.

Lee outlined plans to create a 'Battery Triangle Belt' connecting the Chungcheong, Yeongnam, and Honam regions, designating Chungcheong for battery manufacturing, Yeongnam for key materials and future demand responses, and Honam for essential minerals and cathode materials.

Additionally, he committed to promoting energy storage systems (ESS) linked to energy highways and strategically developing the used battery industry.