The government is wasting a huge amount of taxpayer money each year to make sure a group of private investors in an airport highway makes an adequate return on their investment, data showed Friday.

According to the data from the Ministry of Land, Transport and Maritime Affairs, the government paid a cumulative 790.9 billion won ($711.9 million) in subsidies between 2002-2011 to New Airport Hiway Co., a private owner and operator of a highway connecting Seoul to its main gateway Incheon International Airport.

A large amount of money is paid every year to the private company due to a clause in the company’s 30-year contract with the government, under which the government agreed to a 9.7 percent annual minimum return guarantee on the company’s initial 1.46 trillion won investment. (Yonhap News)