The connection between Frankfurt RheinMain and South Korea is getting even closer: since the beginning of October, the South Korean airline T' WAY Air has been offering flights between Frankfurt and Seoul for the first time. At the same time, the company is opening its European branch in Frankfurt am Main on 24 October.
The move was supported by FrankfurtRheinMain GmbH International Marketing of the Region (FRM GmbH) in close cooperation with Frankfurt Economic Development.
Mike Josef, Lord Mayor of the City of Frankfurt and Chairman of the Supervisory Board of FRM GmbH: 'Frankfurt RheinMain and South Korea have been closely linked for many years. No other region in Europe has a larger Korean community than here; Korean banks, corporations and companies such as Bank of Korea, Hyundai, Kia, Samsung, LG, Kumho and Nexen Tire - to name but a few - are represented here with German or European headquarters. Around 11,000 Koreans feel at home in the FRM. The decision by T'WAY Air to open a branch office in addition to a regular flight connection between Frankfurt and Seoul is further proof of these long-standing and close ties.'
South Korean airline T' WAY Air was established in 2005 under the name Hansung Airlines. The airline was renamed T' WAY Air in 2010. The company is headquartered in Daegu Metropolitan City. T'WAY Air employs 3,500 people worldwide and has a turnover of approximately 1 billion euros.
T' WAY Air will commence flights between Frankfurt and Seoul on 3 October 2024. The airline will initially offer three flights a week, increasing to four flights a week from November. WAY Air is the fourth largest South Korean airline in terms of passenger numbers, after Korean Air, Asiana Air and Jeju Air. T`WAY Air says it flies to 59 destinations, including France, Spain, Italy, Japan, China, Australia, Thailand, Indonesia, Kyrgyzstan and Mongolia, in addition to five domestic flights. In 2023, the airline carried 4.2 million international passengers.
'Our region offers an excellent starting point for Korean companies and their employees. Facilities such as the Consulate General of the Republic of Korea, the Korea Trade & Investment Promotion Agency (KOTRA) Europe Head Office and the Korea Business Development Centre make it easy for companies and their employees to get started. An infrastructure that is unique in Germany, with Korean doctors, naturopaths, lawyers, schools, hairdressers, supermarkets, beauty salons, hotels, restaurants and karaoke bars, makes the location even more attractive. It is therefore not surprising that more than half of Korean direct investment in Germany is in Frankfurt RheinMain. The establishment of T' WAY Air underlines the importance of our region as the most important location for Korean companies in Europe and ensures short distances between FRM and Korea,' says Eric Menges, President & CEO of FRM GmbH.
FRM's Korea team accompanied the South Korean airline in its first steps and was available to the company as a contact partner in every phase of the relocation process, providing support in establishing suitable networks and contacts in cooperation with the City of Frankfurt's Economic Development Department, among others.
T' WAY Air will initially create around 10 jobs in the new Frankfurt office.