Incheon Port's Container Throughput Hits Record High Last Year... Used Car Exports and New Shipping Routes Drive Growth

Achieved 3.46 Million TEU... Largest Ever, 100,000 TEU Increase from 2021
Targeting 3.5 Million TEU This Year... Attracting Strategic Cargo Including New Routes and K-Food

Last year, the container cargo volume handled at Incheon Port was recorded at 3.46 million TEU, marking the highest performance ever. The expansion of used car exports using containers and the opening of eight new routes, including the Middle East route, were considered key factors.

According to the Incheon Port Authority (IPA) on the 26th, despite a challenging business environment due to global economic slowdown and uncertainties in the global supply chain, the container cargo volume at Incheon Port last year increased by 8.4% compared to the previous year, reaching 3,461,363 TEU (1 TEU equals one 20-foot container). This is more than 100,000 TEU higher than the previous record of 3.35 million TEU set in 2021.

Regardless of the container length on trailer vehicles, the number of containers handled at Incheon Port last year averaged about 6,000 per day. Last year, import cargo volume was 1,737,000 TEU, and export cargo volume was 1,675,000 TEU, increasing by 9% and 9.9% respectively compared to the previous year. The export share by country was China 63.2%, Vietnam 8.8%, Taiwan 2.8%, Hong Kong 2.1%, and Malaysia 2.1% in order.

Incheon New Port Container Terminal Photo by Incheon Port Authority

IPA analyzed that the increase in cargo volume was due to the rise in exports of used cars and seafood using containers, improved e-commerce processing performance, and the opening of new routes to the Middle East and Southeast Asia.

Last year, Incheon Port's used car export volume reached 502,177 units, surpassing the previous record of 420,000 units in 2019. In particular, 80.1% of used cars, amounting to 402,384 units, were exported via container loading and transportation, leading the increase in container cargo volume at Incheon Port. Additionally, last year's e-commerce export and import cargo volume was 19,783 tons, a 29.2% increase compared to 15,311 tons in 2022, which was the highest record at the time. Seafood export cargo volume also recorded 18,191 tons, up 12.9% from 16,108 tons in 2021.

Furthermore, Incheon Port opened eight new container routes last year, bringing the total number of routes to a record high of 70. Notably, new calls were made to the Middle East and Bangladesh, and a route to Indonesia, considered the 'Next China,' was also added.

IPA plans to focus on attracting more than five new regular container routes, strengthening marketing to shippers in the metropolitan and central regions, and attracting strategic cargo such as automobiles and K-food, aiming to achieve a container cargo volume of 3.5 million TEU this year. They will also timely develop the 'Incheon New Port I-2 Phase Container Terminal,' a smart fully automated port, and accelerate the creation of the Smart Auto Valley (used car export complex).

Lee Kyung-gyu, IPA President, said, "Despite many adverse factors such as global tightening policies, the expansion of the US-China trade dispute, and the war in Ukraine, we achieved the highest cargo volume ever through the efforts of the port industry and organizations. Although several difficulties are expected this year as well, we will strive to achieve the set goal of 3.5 million TEU."

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