FedEx has signed a memorandum of understanding (MOU) with Incheon International Airport Corporation (IIAC), South Korea, to develop and operate its new cargo terminal at the airport which is the largest in South Korea and primarily serves the metropolitan area of Seoul.
With the new facility, FedEx aims to expand the shipping capability for its Korean customers. The cargo terminal, to be located at the airport’s northern site, is scheduled to be completed in the second half of 2019. The investment sum was not disclosed.
FedEx said it plans to deploy advanced logistics facilities at the new terminal, including an automated cargo sorting system to meet the fast-growing demand for express cargo.
The new facility will have the capacity to sort up to 9,000 packages per hour, which will speed up the handling of inbound and outbound shipments and enhance the overall customer experience. It will serve as a consolidation and transshipment point for Korea.
The terminal is estimated to cover 23,425 sqm, which more than doubles the size of the current facility, including warehouse, office and canopy.
“FedEx has been operating in Korea for more than 27 years, with flights connecting Korea to the rest of the world. The new facility is part of FedEx’s ongoing commitment to Korea and our customers giving them greater access to markets supported through our strong and integrated network,” Eun-Mi Chae, managing director of FedEx Express Korea, said. “This is part of our long-term strategy to continue offering outstanding services that fit our customers’ needs.”
