Swissport has taken full control of its Swissport Korea joint venture, having previously held a 59% shareholding, underlining its confidence in the Korean aviation market and delivering on its Asia growth strategy.
Since entering the Korean market in 2005 with local partners, Swissport Korea has tripled its revenue, expanded its offering, and steadily expanded its customer base. The company now supports many leading airlines with ground services and cargo handling over there.
In 2019, Swissport Korea opened the country’s first “regulated” cargo terminal at Incheon International Airport, serving forwarding agents and airlines off airport.
Prior to the pandemic, Swissport Korea had 1,200 employees serving airlines including Emirates, FedEx, Air Canada, Air France-KLM Cargo, amongst others.
As the only independent ground handling agent, Swissport Korea also operates check-in facilities at Seoul main rail station and express bus terminal, Seoul City Air Terminal.
“We thank our joint venture partners for many successful years,” said Brad Moore, Managing Director for Asia-Pacific at Swissport.
“We commenced in Korea with a team of 250 and two airline customers. Prior to COVID-19, the business had 1,200 employees serving well-known brands including Emirates, FedEx, Air Canada, AeroMexico, Air France-KLM Cargo, Air New Zealand, Hawaiian Airlines, VietJet and many more.”
“With the acquisition complete, we will turn to further strengthening our local management team to continue to deliver exceptional service to our partners. We want to leverage the significant growth opportunities in Korea and throughout Asia and are delighted that our founding partner J.W. Kim will continue to maintain strong ties with Swissport Korea,” Moore expressed.