The two businessmen 60 year Hyun Ku Kim and Lee Sang Yong, 65 were caught as the former was preparing to board a plane to South Africa.
Police security personnel at the airport manning the main terminal X-ray machine detained the bag after the machine had detected the Ivory.
The Officers traced the owner of the bag, after they physically searched it and found five pieces of curved Game trophy.
It weighed 1.5 kilograms and valued at about MK2 million.
During interrogation, the suspected passenger Hyun Ku Kim accepted liability but also implicated his friend Yong, whom he claimed gave him the Ivory as a gift.
Kim was in the country visiting his friend, Yong in the capital city.
Further investigation by Police led to the arrest of the second suspect who also admitted the offence.
The first suspect will answer two counts of Illegal possession of Game trophy and Illegal exportation of Game trophy (Ivory) which contrary to section 98 as read with Section 111 and 113 of National Parks and Wild Life Act 2004.
While the second suspect will answer an offence of dealing in Government Game Trophy (Ivory) contrary to section 91 of the National Parks and Wildlife Act of 2004.
Both suspects will appear in Court on Wednesday.
Meanwhile Police at KIA are appealing to the General Public to avoid Wildlife Crimes since Wildlife conservation is beneficial to the country.
About a month ago police arrested ten people who are suspected to have been involved in smuggling ivory out of the country.
This was after 448 Kilograms of Ivory was confiscated in China, Vietnam and Thailand.
It is said to have passed through the Kamuzu International Airport.