Recently, Korea Air declared bid winning bank of cash management in China region of the company. ICBC successfully won the qualification as Chinese bank of cash management for the company in China. According to agreement, ICBC will take of the advantages of advanced cash management business platform and settlement network to provide cash collection and payment service for branches of Korea Air in China.

Korea Air, founded in 1969, is the No. 1 airline company in Republic of Korea and mainly engaged in passenger, cargo transportation, aviation, food supply, hotels and others. On July 1, 2005, Korea Air Cargo, subordinated to Korea Air, was ranked the largest business air cargo operator in the world by International Air Transportation Association. So far, international flight courses of Korea Air have reached 31 countries and 90 cities.

This cash management cooperation uncloses the prelude of cooperation between the Korea Air and ICBC, and also lays foundation for further cooperation between the two parties.