S Korea to sell 49% stake in Incheon airport

South Korea plans to sell a combined US$1.31 billion stake in the Incheon International Airport Corp and Industrial Bank of Korea next year to finance its fiscal 2011 budget, reported Reuters.

The Ministry of Strategy and Finance said that it would start the sale of a 49 percent stake in Incheon Airport from this year and complete the sale by 2011.

South Korea would retain control 51 percent of the airport after the sale, it said.

Industrial Bank of Korea (IBK) would be privatised by 2014, the ministry said.
(Source:www.cargonewsasia.com)