• The Incheon Port Authority (www.icpa.or.kr, President Lee Kyung-Gyu) announced on the 23^rd that the container volume in the first half of this year increased by 8.5% year-on-year, reaching 1,789,864 TEUs. This marks the highest container volume recorded in the port's history for the first half of the year.

* The previous record for first half of the year container volume was set in the first half of 2021, with 1,695,867 TEUs.

• According to the IPA, export container volume for the first half of this year was 871,592 TEUs, while import volume reached 889,908 TEUs, reflecting increases of 9.2% and 7.2% respectively, compared to the same period last year. In addition, transshipment volume stood at 28,363 TEUs.

• Customs data statistics revealed that 223,570 used vehicles were exported in the first half of this year, of which 78.3%, or 175,158 vehicles, were transported through containers.

   

• Furthermore, 140,341 new cars were exported from Incheon Port during the same period, with 19.8%, or 27,720 vehicles, transported through containers.

• In terms of major increases in container export volumes by country, data showed that China accounted for 559,826 TEUs, Taiwan for 34,294 TEUs, Malaysia for 19,529 TEUs, and Vietnam for 73,601 TEUs. This reflects increases of 53,980 TEUs (10.7%), 8,887 TEUs (35.0%), 4,644 TEUs (31.2%), and 3,471 TEUs (4.9%), respectively, compared to the same period last year.

• The export market share by country showed China leading with 64.2%, followed by Vietnam at 8.4%, Taiwan at 3.9%, Malaysia at 2.2%, and Hong Kong at 1.9%, with these five countries accounting for 80.6% of the total export container volume.

   

• In terms of major increases in container import volumes by country, data showed that China led with 489,611 TEUs, followed by the United States with 29,580 TEUs, Vietnam with 114,331 TEUs, and Malaysia with 29,753 TEUs. These figures reflect increases of 23,554 TEUs (5.1%), 13,628 TEUs (85.4%), 6,312 TEUs (5.8%), and 4,075 TEUs (15.9%), respectively, compared to the same period last year.

   

• The import market share by country showed China leading with 55.0%, followed by Vietnam with 12.8%, Thailand with 6.6%, Malaysia with 3.3%, and the United States with 3.3%, with these five countries accounting for 81.1% of the total import container volume.

   

• The IPA attributes the increase in container traffic to robust trade with China, Vietnam, and Taiwan. Notably, exports to China saw increases in machinery, miscellaneous goods, and textiles, while imports from China showed growth in electrical equipment, textiles, and plastic/rubber products. Trade with countries other than China also showed significant growth, with wood products, miscellaneous goods, and electrical equipment leading in exports, and plastic/rubber products, chemicals, and electrical equipment contributing to import growth.

• Incheon Port Authority Vice President of Port Operations Kim Sang-ki stated, "Despite the surge in container freight rates since April this year, which has posed challenges for import and export logistics, Incheon Port has seen a substantial increase in container traffic,” and added, “This achievement is thanks to the dedication of all those working at Incheon Port. In the second half of the year, we will strengthen targeted marketing efforts toward shipping companies, shippers, and forwarders, while actively promoting port sales both domestically and internationally."

Reference: Incheon Port Container Volume Data (1 attachment)

□ Monthly Container Volume

(Unit : TEU, %)

□ Container Volume by Imports and Exports

(Unit : TEU, %)

□ Monthly Used Car Export Volume

(Unit : Vehicles, %)

(Source) Compiled from the raw data of the Korea Trade Statistics Promotion Institute