The Incheon Port Authority (www.icpa.or.kr, President Lee Kyung-Gyu) announced that on August 8 of this year, the container cargo volume at Incheon Port has surpassed 2 million TEUs. In the previous year, the same milestone was reached on August 17th, making this year's achievement 9 days ahead of the previous year.

According to IPA, the milestone of 2 million TEUs was reached in record time, advancing from December 6, 2013, when it was first achieved. In subsequent years, this milestone was reached in November 2014, October 2016, September 2017, and August 2018. The fastest achievement on record was in 2021 when 2 million TEUs were reached on August 3rd. This year marks the second-fastest achievement in history.

IPA attributes the shortened time to reach 2 million TEUs to several factors, including ▴The expansion of the export of used cars in containers, which has been on the rise since the end of last year, and ▴The opening of four new container shipping routes, including routes to the Middle East, resulting in a total of 70 container routes – the largest number of routes in the port’s history.

However, for the latter half of the year, uncertainties remain with regard to the continued increase in container volume at the level of the first half of the year due to factors such as ▴The continued uncertainty in the demand for imported used cars in key importing countries, ▴A decline in the overall import and export volume due to a global economic slowdown, and the ongoing sluggishness in the domestic demand and manufacturing, and ▴Looming concerns such as the inadequate impact of increasing imports and exports to China due to its reopening and increased trade activity.

Park Won-Geun, Director of Marketing at Incheon Port Authority, stated, "In efforts to sustain the growth of container cargo volume in the latter half of the year, we will not only focus on the export of used cars but also explore various cargo items and enhance container route services.” He further emphasized, “Through collaboration with container terminal operators, shipping companies, and forwarders, we are determined to surpass the record-high container volume of 3.35 million TEUs achieved in 2021, the highest ever recorded at Incheon Port."