Transportation Industry Sales Hit Record High of 254 Trillion Won Last Year

2024 Transportation Industry Survey Results

Last year, transportation industry sales reached a record high of 254 trillion won. This was driven by increased international cargo volume and rising demand for overseas travel.

According to the "2024 Transportation Industry Survey Results" released by the National Data Office on December 11, transportation industry sales last year amounted to 254.7 trillion won, up 12.4% from the previous year. This is the highest figure since comparable statistics became available in 2000. By sector, land transportation (10.0%), water transportation (17.7%), air transportation (13.5%), and warehousing and transportation services (11.5%) all saw increases. The improvement in international cargo transportation performance was attributed to rising ocean freight rates and increased cargo volume, while the growth in overseas travel demand also played a significant role.

The number of employees rose 11.4% year-on-year to 1,536,000, marking the highest level ever recorded. The growth rate was also the largest since 2001, when it reached 12.7%. The main factor behind this increase was the rise in small-scale cargo transportation, such as courier and quick delivery services.

On the other hand, the number of companies decreased by 0.4% to 610,000. This decline appears to be due to a reduction in general cargo truck transportation companies related to road freight transport. Operating expenses in the transportation industry grew by 10.7% to 222.8 trillion won. The increase in costs was concentrated in sectors with significant sales growth, such as water and air transportation. Meanwhile, the number of companies in the logistics industry last year was 433,000, with 989,000 employees. Compared to the previous year, the number of companies declined by 0.8%, while the number of employees increased by 16.2%.

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