Smart City Service Strategy in Incheon International Airport Economic Zone

Abstract

Purpose This policy paper aims to build comprehensive strategies for the Incheon International Airport (IIA) by integrating the concept of circular economy, as opposed to the concept of the linear value chain, to Incheon Airport Economic Zone (IAEZ). Design/Methodology/Approach Combining with the theoretical background of the airport hubs and the concept of circular economy, development strategies built on two pillars of the ‘service convergence platform’ and the ‘smart city data platform’ are suggested for IIA’s open ecosystem. To do this, the study explores the literature survey and data on global hub airports, extracts the competitive advantages as hubs, and formulate strategies by integrating the concepts of the circular economy and hub airport. Findings This paper facilitates the IIA’s development by combining the unique competencies of Korea’s ICT technology on big data with the circular economy concept, which creates innovative business models and new values for the stakeholders. To secure brand and global leadership as a hub airport, the “smart city platforming” of the economic zone of IIA is designed as an enabler of the circular economy to establish a virtuous cycle system. Research Implications This conceptual combination of the circular economy and the airport zone can be applied to a wider global network by creating a global standard. IIA can sustain leadership and brand with innovative core competencies irreplaceable in competition.