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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] The Ministry of Land, Infrastructure, and Transport announced on the 30th that South Korea and Georgia have agreed to establish new passenger and cargo transportation rights, allowing for seven weekly flights, following the Korea-Georgia aviation talks held in Tbilisi on June 26-27.
This agreement allows flexible use of up to seven weekly flights for either passenger or cargo services.
Additionally, to establish a free indirect flight system for airlines of both countries, they agreed on a 'code-sharing' provision, which allows third-country airlines to participate. This means that even if a Korean airline operates the Incheon-Central Asia route and a third-country airline operates the Central Asia-Tbilisi route, services such as unified ticket issuance, mileage accumulation, and baggage transfer can still be provided.
Interest in Georgia as a new travel destination has been increasing, with passenger demand more than doubling from 4,877 in 2017 to 9,835 last year.
Despite its area being about 30% of the Korean Peninsula, Georgia is considered a geopolitically significant hub for trade between Europe and Asia. Trade between South Korea and Georgia increased by 120.2%, from $94 million in 2017 to $207 million last year.
The two countries have been negotiating an Economic Partnership Agreement (EPA) since February. If concluded, the agreement is expected to facilitate even more active economic cooperation.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
