Martial Arts, Korean Air and SMEs Sign Agreement to Establish Dedicated Cargo Compartments

Lee Gwansub, Vice Chairman of the Korea International Trade Association (left), and Woo Ki-hong, President of Korean Air, are posing for a commemorative photo after signing the "Small and Medium Enterprise Air Transport Support Agreement" at Trade Tower in Samseong-dong on the 1st.
[Photo by Korea International Trade Association]

[Asia Economy Reporter Kim Heung-soon] Amid the ongoing global logistics crisis, the Korea International Trade Association (KITA) and Korean Air have joined forces to create dedicated cargo space for small and medium-sized enterprises (SMEs) in both freight and in-flight cargo.

On the 1st, KITA announced that it signed a "SME Air Transport Support Agreement" with Korean Air at the Trade Tower in Samseong-dong. They plan to provide dedicated cargo space for SMEs inside Korean Air's cargo planes by the end of the year to support these companies. The first route for cargo planes with SME-dedicated cargo space will depart from Incheon and head to Los Angeles (LA), the largest gateway in the United States.

KITA explained that this agreement was promoted in response to recent challenges in maritime transport, such as record-high sea freight rates and delivery delays due to a shortage of shipping space, which have led companies to require air cargo transport despite additional cost burdens.

Lee Gwan-seop, Vice Chairman of KITA, said, "Traditionally, export volumes surge in the second half of the year, and logistics difficulties are expected to worsen. This will help our companies prepare for the export peak season."

More details can be found on the KITA website later this month.

This content was produced with the assistance of AI translation services.