SOUTH KOREA: S. Korea/EU trade deal to boost air cargo

A new free-trade agreement between the European Union and South Korea which took effect 1 July is likely have a positive spin-off for the air cargo industry. The 27-member bloc’s trade deal with South Korea, the world’s seventhbiggest exporter, is expected to expand their almost US$100 billion of annual commerce by $4.7 billion a year […]


A new free-trade agreement between the European Union and South Korea which took effect 1 July is likely have a positive spin-off for the air cargo industry. The 27-member bloc’s trade deal with South Korea, the world’s seventhbiggest exporter, is expected to expand their almost US$100 billion of annual commerce by $4.7 billion a year over the next 15 years, according to a 2010 study led by state-run Korea Institute for International Economic Policy. South Korea’s annual air shipments may rise 6.4 per cent and imports by 2.8 per cent by 2015. Korean Air earned 28 per cent of its freight revenue in the first quarter of this year from European routes, compared with 40 per cent from the Americas.