Incheon Airport Surpasses Shanghai Airport to Achieve 2nd Place in Global International Air Cargo

Handled 3.273 Million Tons Last Year
Air Cargo Volume Increased by About 20% Compared to the Previous Year

Incheon Airport Cargo Terminal Overview
Photo by Incheon International Airport Corporation

[Asia Economy Reporter Yoo Hyun-seok] Incheon International Airport ranked second in the world in annual international cargo volume.

Incheon International Airport Corporation announced on the 14th that according to data released by the Airports Council International (ACI), Incheon Airport handled 3.273 million tons last year, surpassing Shanghai Airport (3.248 million tons) to achieve second place worldwide in international cargo handling.

When Incheon Airport opened in 2001, its annual air cargo volume was only 1.2 million tons. By 2004, it recorded 2.13 million tons annually. It steadily grew at an average annual rate of 3.6%, surpassing 3 million tons for the first time in 2021, 17 years after opening.

Since the spread of COVID-19, Incheon Airport has actively responded to diversifying its cargo network and ensured stable cargo handling through risk management and uninterrupted operations, resulting in an 18.6% increase in cargo volume compared to the previous year. Additionally, for the first time since its opening, it handled over 400 billion dollars in export-import trade volume, accounting for 33% of South Korea’s total trade value, proving that air logistics is a driving force for export-import trade and national economic growth.

The corporation analyzes the key drivers of Incheon Airport’s air cargo growth as continuous investment in logistics infrastructure such as airport logistics complexes and cargo terminals, attracting companies with cargo generation capabilities like global 3PLs, and the establishment and operation of the Cool Cargo Center, the first in Northeast Asia. Thanks to these efforts, cargo volume in the airport logistics complex has steadily increased over the past five years, rising 46% last year compared to the previous year. The proportion of cargo handled within the airport logistics complex relative to total cargo volume, which averaged 22% since 2017, reached 34% last year.

The corporation plans to accelerate efforts to develop Incheon Airport into the world’s number one logistics hub airport through continuous expansion of logistics infrastructure without resting on these achievements. Specifically, to efficiently handle e-commerce cargo, a dedicated terminal for global express delivery companies has been newly constructed and expanded, with operations scheduled to begin this year. Additional cargo terminals will also be built in the northern area of the cargo terminal. Furthermore, following the 100% lease completion of the first airport logistics complex, the second airport logistics complex is actively attracting future growth-oriented logistics companies and anchor companies capable of creating added value through transshipment.

Recently, consultations with related agencies have been underway for the development of the third airport logistics complex in the reserved area adjacent to the first airport logistics complex’s Sky City. If Incheon Airport develops the third airport logistics complex in a timely manner, it is expected to generate an additional 3.76 million tons of cargo volume annually by 2030. This is anticipated to enable Incheon Airport to leapfrog Hong Kong Airport and become the world’s number one logistics airport.

Moreover, amid the digital transformation of the entire air logistics industry, the corporation is designing a testbed for the ‘future smart cargo terminal’ currently under development, aiming for operation commencement in 2030. Once development is in full swing, it is expected to lay the foundation for a paradigm shift in air cargo infrastructure.

Kim Kyung-wook, President of Incheon International Airport Corporation, said, “Achieving second place worldwide in international air cargo is a remarkable achievement made possible by the continuous interest and efforts of many stakeholders for the development of air logistics.” He added, “Going forward, the corporation will further strengthen Incheon Airport’s future logistics competitiveness by proactively establishing future logistics infrastructure, timely developing the third airport logistics complex, and actively attracting new cargo routes, thereby becoming the world’s number one air logistics hub airport in name and reality.”

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