Air Incheon, a South Korean cargo airline, has started direct Seoul-Dhaka-Seoul cargo flights that will guarantee a single-day arrival for any urgent goods in between Bangladesh and the east Asian nation.
TAD Logistics, a local international freight forwarder launched the two weekly direct cargo flights on Saturday, reports BSS citing a press release.
"Our export process would increase its earnings with the aid of the cargo flights and based on demand from the market. We intend to increase the number of flights on the route to five per week," TAD Group managing director Md. Ashikur Rahman Tuhin said on the occasion.
He said that currently keeping up with market demand and keeping an eye on business continuity, entrepreneurs are looking for reliable alternatives to import and export products.
Through the new cargo service exports of perishable goods from Bangladesh will rise as a result, he added.
The biggest 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) and 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 percent of its clothing from Beijing, according to Business Insiders.
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 4.0 per cent with export earnings of $440 million in FY22.
