South Korean air cargo traffic in 2011 fell 1.9 percent year-over-year, but government officials expect various international events, including the London Olympic Games, to boost shipments of high-tech products in 2012, according to a published report.
International traffic in 2011 fell 2.6 percent year, as a 5.3 percent drop in exports to United States and a 7.3 percent drop in shipments to Japan offset a 0.8 percent rise in Southeast Asia exports. Domestic cargo rose 7.3 percent in the same period, the Yonhap News Agency reported.
"In 2012, there will still be the influence of the European financial crisis, but the country's air cargo shipments will increase slightly on growing demand for semiconductors, TVs, displays and smartphones due to various international events such as the London Olympic Games and Euro 2012 (soccer tournament)," the government said.
Asian air cargo traffic has suffered the most amid an international market slump. Asia-Pacific carriers in November saw traffic fall 6.5 percent year-over-year, according to the Association of Asia Pacific Airlines. And carriers saw traffic fall 4.8 percent year-over-year in the first 11 months of the year.