KIFFA resumes building exclusive warehouse for members

After notification about the duty-free area in Inchon International Airport on September 16th, KIFFA (Korea International Freight Forwarders Association) resumed building a warehouse exclusively for use by its members. KIFFA announced that it had held conferences for resumption on September 21st and decided to leave the matter to a subcommittee.
On November 3rd, the subcommittee will discuss related matters with members wanting to invest. The decision will be submitted to the Inchon International Airport Corporation.
According to notification that the total area for airfreight is 31,300 pyoung and partitioned off into 8 districts between 2,700 and 5,000 pyoung, KIFFA will build a 15,650 pyoung warehouse with a building-to-land-ratio of 50%.
The Inchon International Airport Corporation will charge 10,500 won per㎡ for the rent of duty-free area. This rate will apply solely to the freight of manufacturers in the airport and Sea & Air freight. Because KIFFA failed in renting the duty-free area at lower rates (the rent was was 31,000 won per㎡), most of the members would be excluded from this benefit.