FedEx Enhances Service for International Freight Shipments

Seoul, South Korea, February 28, 2024 – FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, is further enhancing its transpacific service between South Korea and the US, with the introduction of a new flight that offers additional capacity to cater to international freight shipments.

Effective this month, the new flight will operate five times a week through the FedEx Incheon Gateway. Exporters shipping from South Korea now benefit from having convenient access to added capacity when transporting their heavyweight or freight shipments to the US. This is in addition to our current five weekly flights to the US and six weekly flights to Europe.

The new flight brings added benefits to customers of an extension in call-in cut-off time by up to 3.5 hours. For customers using FedEx International Priority Freight® (IPF) to export their products to the US, the latest cut-off time is 5:30pm[1]. This offers customers more time, flexibility and convenience when preparing their shipments.

For the first time in 18 years, the US has become South Korea’s second largest export market, driven by substantial increase in exports, such as automobiles, machinery, and secondary batteries. In 2023, exports from South Korea to the US reached an all-time high of USD 115.7 billion[2].

“Despite South Korea’s slower-than-expected economic recovery, the country’s exports are forecasted to surge by 7.9% in 2024[3], spurred by the increasing demand for high-tech products, especially semiconductors that need to be moved via air freight,” said Wonbin Park, managing director of FedEx Express Korea. “As part of our efforts to redesign our international air network that optimizes for speed and density, this enhancement not only empowers manufacturers and exporters with greater flexibility and efficiency in managing their shipments to the US, it also enables us to meet the growing demand from customers needing international air freight transportation, especially those in the electronics, automotive, home appliances and fashion industries.”

The expanded FedEx Incheon Gateway in 2022 features parcel and freight processing capabilities, benefitting businesses who want to bundle both shipment types in a single network with a single interface – a unique feature of the FedEx South Korea value proposition. With the expansion, FedEx can efficiently cater to the increasing demand for international freight shipments. It also plays a pivotal role in facilitating cross-border trade opportunities for even more Korean businesses.

[1] Customers are advised to reach out to the Customer Service team for cut-off time information specific to their postal code.
[2] https://www.yna.co.kr/view/AKR20240101029800003
[3] https://www.bloomberg.com/news/articles/2024-01-01/south-korea-s-exports-grow-in-sign-momentum-to-carry-into-2024