TAD Logistics launched the direct cargo flight ' Air Incheon-Korean Airlines' from Bangladesh to South Korea this week, says a press release.
While inaugurating the flight Md Ashikur Rahman Tuhi
“This direct flight will run twice a week. Based on demand from the market, we intend to increase the number of flights on the route to five per week” he added.
He continued, "Now, in line with market demand and to maintain business growth, entrepreneurs are looking for reliable alternatives to import and export products”.
This service will save time and guarantee a single-day arrival for any urgent goods, he added.
Main exports from Bangladesh to South Korea include leather, leather goods, crabs, RMG, fish, and human hair.
According to the Bangladesh Garments Manufacturers and Exporters Association (BGMEA), apparel, including a diverse basket of items such as underwear, denim, shirts, jackets and pullovers, expects to export $1 billion to Korea this fiscal year.
With apparel manufacturing increasingly moving out of China due to rising costs, Bangladeshi entrepreneurs now have an opportunity to capture the Korean market, which currently sources 34 per cent of its clothing from Beijing, business insiders say.
In a data published by Export Promotion Bureau (EPB), since 2017, Bangladesh's share of the Korean clothing market has been growing but at a slow pace and reached a little over 4 per cent with export earnings of $440 million in FY22.
