South Korea’s carriers saw a 29 percent surge in passenger traffic to a record high of over 47 million in the first half (H1) of 2024 on higher demand for affordable air travel, government data showed on Monday. The number of passengers traveling via South Korea’s 10 local airlines reached 47.56 million in the January-June period, up from 36.83 million a year ago, according to data from the Ministry of Land, Infrastructure and Transport.
International routes drive growth
In the first six months, 18.15 million passengers traveled on domestic routes of local carriers, up 12 percent annually. Meanwhile, 29.41 million passengers traveled on international routes, up 43 percent from a year ago, the data showed.
The ministry’s data attributes the jump in South Korea’s passenger traffic to the increase in flights by low-cost carriers to short-haul destinations in Japan and Southeast Asia amid high inflation and a weak won.
If the current trends continue in H2 of 2024, South Korea’s passenger traffic will likely reach 100 million in 2024, exceeding the pre-pandemic level of 93.47 million in 2019.
The 10 airlines include two full-service carriers, Korean Air Co. and Asiana Airlines Inc. Moreover, they include eight budget carriers, including Jeju Air Co., Jin Air Co., T’way Air, Air Busan Co., and Air Seoul Inc.
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Visitor numbers recover
According to recent data from the Center for Aviation (CAPA), South Korea’s visitor numbers have recovered strongly, although not quite to the same degree as overall international passenger levels. This indicates that outbound international demand has been slightly stronger than inbound demand.
Inbound visitor numbers have risen significantly in the early months of 2024. Monthly data in March and April reached their highest levels since the COVID-19 pandemic began.
Overall visitor numbers in South Korea were at 89.2 percent of 2019 levels in April. The percentage was much lower in March but was still in the 80-85 percent range in January and February.
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