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Transportation industry sales up 20 pct in 2022 on travel demand surge

December 8, 2023

Sales of South Korea’s transportation industry rose nearly 20 percent in 2022 driven by a rising demand for travel after the COVID-19 pandemic, data showed Friday.

Sales came to 232.5 trillion won (US$177.66 billion) last year, up 19.8 percent from the previous year, according to the data from Statistics Korea.

The growth came as sales of the air transport sector surged 57.9 percent on-year to 23.4 trillion won as more people took trips as the COVID-19 situation had been stabilized.

Sales of the water transport segment advanced 36.2 percent to 63.4 trillion won, and those of the land transport sector also gained 7.5 percent on-year to 81.9 trillion won last year.

The storage and delivery service sector enjoyed a 13 percent sales jump in 2022.

South Korea had 598,000 transportation companies as of end-2022, up 4.1 percent from a year earlier. Their combined workforce inched up 1.6 percent on-year to 1.34 million, according to the data.

This file photo shows people moving at Incheon International Airport, west of Seoul, on Sept. 27, 2023. (Yonhap)
This file photo shows people moving at Incheon International Airport, west of Seoul, on Sept. 27, 2023. (Yonhap)