TNT submits LOI to Inchon Air port

TNT, a European multinational logistic group, sent a Letter Of Intent (LOI) to build a cargo terminal at Inchon International Airport in order to use it as hub center in Northeast Asia.
As the Ministry of Construction and Transportation (MOCT) and Ministry of Finance and Economy (MOFE) has been pursuing total logistic groups such as DHL, FedEx and UPS to Inchon International Airport to raise it as a hub port for Northeast Asia, TNT submitted an LOI (Letter of Intent) Dec. 18 to build a cargo terminal for a logistic hub to service Northeast Asia.
TNT? LOI showed that the cargo terminal will be built on an area about 2,100 pyoung at a cost of 7 million Euro from the TNT Post Group. The construction will start from April, 2004 and be completed by 2005. TNT plans to use the cargo terminal as hub for Northeast Asia, such as Japan, China, Mongolia and Russia, starting from 2006.
MOCT said that these foreign investments from TNT and DHL are significant opportunities for Inchon International Airport to grow as a Northeast Asian hub.
An MOCT insider disclosed that the government gave its last shot to draw American logistic groups FedEx and UPS to Inchon by choosing a consulting company. If this effort completed its goal, Inchon will be able to consolidate itself as an important hub, he added.