Another example of caving in to terrorists plan

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Saturday September 15, 5:28 am Eastern Time U.S. Attacks Hit South Korean Exports SEOUL (Reuters) - South Korean companies failed to deliver about $100 million worth of exports to the United States this week as terror attacks froze all airborne transportation to that country, the Commerce Ministry said on Saturday. South Korean exports to the U.S. total about $2.5 billion a month and about a quarter of the amount is transported through air cargo.

``Korean exporters could not deliver about $100 million worth of exports to the United States this week because of the U.S. attacks,'' said Yoon Sang-jik, director of the ministry's export division.

Items exported via air cargo include semiconductors, notebooks, mobile handsets, and other high value-added electronic products, he said.

But actual sales of Korean products in the United States would not be affected much as Korean export outlets had significant levels of inventories, Yoon said.

South Korea's two airlines said they would resume flights to the U.S. destinations on Saturday afternoon.

The country's flagship carrier Korean Air , which canceled all of six U.S.-bound flights scheduled for the morning, was expected to put nine flights, including three cargo planes, on the Intone-U.S. routes into the air this afternoon.

Korean Air spokesman William Han said his company was checking whether it was possible to put extra flights on schedule.

Asiana Airline spokesman Kim Haeng-suk said all of its seven U.S.-bound flights for Saturday, including one cargo flight, were back on schedule.

``In addition, we plan to add four flights more, including two cargo planes, to today's schedule,'' Kim said.

All Korean flight schedules to the United States had been canceled since Wednesday.

Immediate revenue losses at the two airlines from canceled flights to the United States this week were estimated at $20.15 million, airline firms said.

The two airlines earn about a quarter of their revenues on flights to the United States.

South Korea has about 200 weekly passenger and cargo flights to U.S. airports.

-- Guy Daley (guydaley1@netzero.net), September 15, 2001


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