Incheon Airport Maglev
 

Saw this was nearing completion a year ago, but was wondering if it was up and running?

Nothing much around online it seems!

Nope. Doesn't exist yet.

Might be a pipedream with all the Korean public spending deficits going on.

I saw it when I was there in September and the track ran outside of my room at the Best Western Premier. To be honest, it looked complete. The colorful lights were on, a station between the terminal and the hotel had its entrance blocked off, but seemed like it was ready to be operational.

If you are talking about the KTX, it should be running. I took it from ICN to Daegu in 2014 without having to take the AREX to Seoul Station then KTX to Daegu.

http://www.korea.net/NewsFocus/Society/view?articleId=132454

The Maglev is open but with limited speeds and schedule.

are there any hotels on the maglev route? Is there anything on it?

Back in April, I took the maglev to see where it goes. There are only 6 stops as of now. Most of it is for the airport such as the employee parking lot and airport admin buildings. You can probably take the maglev to the Hyatt hotel, but I think it would be easier to take the bus there. If you take the maglev to the end, you will see a nice water park. Can't recall the name of the place, but you get off the Water Park station. Right next to it is a modern looking hotel called Nest Hotel. You can find more info here.

At the time I rode the maglev, the ride was free and the hours were limited to 9 to 5 or so.

Other than that, it gives a nice perspective of planes landing or taking off. Might be a way to spend an hour if you have some free time.