South Korean Government Offers Freight Discounts to Support Exporters Amid Soaring Rates
The South Korean government is intervening to assist small and medium-sized enterprises (SMEs) facing surging ocean freight costs. The Ministry of Oceans and Fisheries has announced freight rate discounts and secured additional shipping capacity. In partnership with carriers like HMM, an extra 1,100 TEU of weekly space has been allocated for US West Coast routes. This support program aims to alleviate the financial pressure on exporters caused by global port congestion and the Red Sea crisis. While focused on maritime shipping, the measures could indirectly impact air cargo demand by making ocean freight more tenable for shippers.
Official Source: https://theloadstar.com/south-korea-offers-shippers-a-helping-hand-with-freight-rate-discounts/
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