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KITA Chairman visits Incheon Airport air cargo terminal
2022-01-12 hit 160
KITA Chairman visits Incheon Airport air cargo terminal

Christopher Koo, the Chairman of KITA, visited Korean Air’s cargo terminal located in Incheon International Airport on January 12 to gain first-hand information on the logistics of export business and listen to issues arising from logistics bottlenecks experienced by SMEs.

Chairman Koo said, “I would like express my gratitude for making a decision to extend partnership in our project to provide emergency support of air cargo shipments for small-sized exporting firms” and stressed, “Continued support from the government and relevant institutions is needed this year as well to support SMEs to steer out of the ongoing global logistics crisis.”

Air freight rates from Hong Kong to North America are at $11.1 per kg, according to TAC Index - a leading index in the air cargo market, which is a threefold increase since the outbreak of the Covid pandemic. Two factors contributed to a sudden increase in air freight rates: a) a switch to air transport triggered by prolonged disruptions in the maritime transport sector and b) unstable supply of belly cargo of passenger planes.
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