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Korean Air Chief Vows No Job Cuts in Asiana Acquisition

Korean Air Chief Vows No Job Cuts in Asiana Acquisition

SEOUL, Nov. 18 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, will proceed with the deal to acquire its smaller local rival Asiana Airlines Inc. without job cuts, the company’s chairman said Wednesday. “The company made a decision to acquire (Asiana Airlines) to make a contribution to the development of the country’s [...]

Korean Battery Manufacturers Under Fire as Carmakers Recall EVs

Korean Battery Manufacturers Under Fire as Carmakers Recall EVs

SEOUL, Nov. 16 (Korea Bizwire) — South Korean battery makers are struggling as global automobile manufacturers are choosing to issue recalls for their electric vehicles (EVs). The U.S. automotive giant General Motors Co. reportedly made a decision to recall 68,000 Bolt EVs manufactured between 2017 and 2019. Bolt EV uses batteries made at LG Chem [...]

Korean Air to Buy Indebted Asiana, Emerging as World’s 10th-largest Airline

Korean Air to Buy Indebted Asiana, Emerging as World’s 10th-largest Airline

SEOUL, Nov. 16 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Monday that it will acquire Asiana Airlines Inc. in a deal valued at 1.8 trillion won (US$1.6 billion) that would create the world’s 10th-biggest airline by fleets. Korean Air plans to raise 2.5 trillion won via rights offerings early next [...]