South Korea to privatise domestic airports

South Korea is set to privatise some of the country's 14 domestic airports, of which only five have posted profits in 2007. The move is part of a move by the government to privatise and reform state-run companies.

Earlier in the month, the finance ministry had announced sale of a 49 per cent stake in state-owned Incheon International Airport to global airport operators in order to boost its competitiveness.

So far, no details are available as to the likely time frame in which the sale of assets may take place or even which airports may be privatised.

Public hearings will be held before any sell-off takes place.