South Korean cargo traffic falls
15 / 05 / 2012
A DECLINE in the shipment of information technology (IT) products is being blamed for the first quarter 1.9 per cent drop in air cargo volumes from South Korea.
The country shipped 857,000 metric tonnes between January and March compared with 874,000 tonnes a year earlier, according to the Ministry of Land, Transport and Maritime Affairs.
International volumes slipped 2.9 per cent year-on-year to 783,000 tonnes but domestic volumes climbed 9.6 per cent to 74,000 tonnes.
The ministry believes the drop in IT exports is a result of local firms building more overseas facilities, which can manufacture mobile phones and televisions.
Incheon International Airport – the country’s largest airport – handled 743,000 tonnes in the three-month period, down 3.8 per cent from the same period last year.
The ministry expects the downward trend to continue in the second quarter because of the slow economic recovery of major trading partners such as China and Europe.