The cumulative cargo volume handled by Incheon International Airport for the past 20 years has surpassed 50 million tons.

The Ministry of Land, Infrastructure and Transport (MOLIT) and the Incheon International Airport Corp. said a Korean Air cargo flight departed for Incheon International Airport for Atlanta Airport at 10:58 a.m. on July 27, carrying 70 tons of exports, bringing the total cargo volume handled by the airport since its opening in 2001 to 50 million tons.

The value of imported and exported items over the past two decades stands at an estimated $15 trillion (17,224.906.2 trillion won).

The figure is nine times more than the nation’s 2020 GDP ($1,638.2 billion). Big-ticket items, including semiconductors and medicines, accounted for 33.6 percent of the combined value of imports and exports in 2020.

The 50 million tons of air cargo is equivalent of 500,000 packed Boeing 747-400F cargo planes. If 50,000 Boeing 747-400Fs are lined up in one line, it stretches for 40,000 kms, a distance to traveling the globe once.

Incheon International Airport’s cargo volumes stood at 1.2 million tons in 2001. Its cargo volumes rose to 2.55 million tons in 2007, but declined to 2.31 million tons in 2009 due to the effects of the U.S. financial crisis in 2008.

As the global economy recovered, the airport’s annual cargo volume was on the rise. Cargo volume peaked at 2.95 million tons in 2018, the highest ever.

Despite the COVID-19 pandemic, which forced international passenger travel to plunge 97 percent, Incheon airport’s cargo volume logged 1.62 million tons in the first six months of the year, a 23 percent jump over the same period of last year.

The airport is forecast to post 3 million tons of cargo volume this year, its best ever, so it is poised to solidify its global standing as the world’s No. 3 global cargo airport.

President Kim Kyung-wook of Incheon International Airport Corp. (IIAC), Korean Air President Woo Kee-hong, and KARI President Lee Sang-ryul pose after signing an R&D deal on the commercialization of Korean-style urban air mobility at Korean Air headquarters on Aug. 5. (Photo: IIAC)

IIAC Seals R&D Deal on Commercialization of UAM with Korean Air and KARI

Incheon International Airport Corp. (IIAC) struck an R&D deal on the commercialization of Korean-style urban air mobility, dubbed “K-UAM” with Korean Air and Korea Aerospace Research Institute (KARI), at Korean Air headquarters on Aug. 5.

Among those on hand at the signing ceremony were IIAC President Kim Kyung-wook, Korean Air President Woo Kee-hong and KARI President Lee Sang-ryul.

UAM, a new transportation means concept using sky routes, emerges as next-generation mobility to solve traffic congestions and environmental issues.

The value of the global UAM market is predicted to stand at 1,500 trillion won around 2040.

The deal takes on significance since the nation’s representative institutions in the aviation sector have joined forces to work out safe and effective UAM transportation management regimes.

IIAC is responsible for aviation safety and the construction and operation of airports while Korea Air specialize in passenger/cargo transportation and the development of manned and unmanned aircraft.

KARI is charged with R&D capabilities related to future transportation management technologies. Based on these capabilities, the three institutions plan to conduct joint research and project cooperation, look into industry trends and build close relationships through mutual exchanges.