FedEx Express, the airline subsidiary of logistics specialist FedEx Corp., has announced the launch of a new dedicated Boeing 777F cargo route connecting its hub in Memphis to South Korea, offering four non-stop flights a week.
In 2010, $38.8bn of goods were exported from the United States to South Korea, a significant 35-percent rise year on year, and FedEx says it has introduced this service to meet growing demands across global markets and offer practical solutions for increased shipping needs.
"Korea is the seventh-largest trading partner of the U.S. in terms of two-way trade which is expected to increase after final approval of the U.S. - Korea Free Trade Agreement," said Michael L Ducker, executive vice president and chief operating officer, FedEx Express. "Flying direct to South Korea supports export trade from the U.S., Canada and select markets in Latin America and helps put our customers' shipments from these locations into the South Korean market much faster."
According to the US International Trade Commission, US merchandise exports to Korea would likely increase by nearly $11bn a year after of the pending U.S. - Korea Free Trade Agreement is approved. With the new direct service, FedEx says it can now deliver documents and packages from the U.S., Canada and select markets in Latin America to Seoul, South Korea in two to three business days.
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