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More Customers Abandon MVNOs for SKT, KT, LG Uplus

More Customers Abandon MVNOs for SKT, KT, LG Uplus

SEOUL, Jan. 18 (Korea Bizwire) — With the three major telecom operators SK Telecom, KT and LG Uplus closing the gap in affordable pricing for phones and rate plans since last September, South Korea’s mobile virtual network operators (MVNO) are increasingly losing customers while simultaneously failing to attract new users. Unlike the triumvirate of traditional [...]

S.Korea Will Have to Spend 5 Trillion Won to Normalize Shipping Capacity

S.Korea Will Have to Spend 5 Trillion Won to Normalize Shipping Capacity

BUSAN, Jan. 4 (Korea Bizwire) – The South Korean shipping industry will have to spend a minimum of five trillion won to return its shipping container capacity to normal levels, a report has claimed. According to the report released by the Korea Maritime Institute on Wednesday, Hyundai Merchant Marine, which is the largest shipbuilding company [...]

Budget Carrier Jin Air Begins Incheon-Johor Bahru Service

Budget Carrier Jin Air Begins Incheon-Johor Bahru Service

SEOUL, Jan. 3 (Korea Bizwire) – Jin Air Co., the budget unit of Korean Air Lines Co., has launched a new route to Johor Bahru in Malaysia, company officials said Wednesday, in the latest move to expand its services in the region. The debut service began on Tuesday when a B777-200ER aircraft with 393 seats left for Johor Bahru in southern Malaysia from Incheon International Airport, South Korea’s main gateway. Jin Air said [...]

Korean Air to Fly CS300 Aircraft on Seoul-Ulsan Route

Korean Air to Fly CS300 Aircraft on Seoul-Ulsan Route

ULSAN, South Korea, Jan. 3 (Korea Bizwire) — Korean Air Lines Co. will fly its new CS300 aircraft on the Seoul-Ulsan route later this month, Ulsan city government said Wednesday. South Korea’s flagship carrier will fly two fuel-efficient 127-seat CS300s, manufactured by Canadian aircraft company Bombardier, on domestic routes linking Seoul to Ulsan, Pohang, Yeosu [...]

Woongjin to Re-enter Water Purification Business

Woongjin to Re-enter Water Purification Business

SEOUL, Jan. 3 (Korea Bizwire) – Woongjin Corp. said Wednesday it will re-enter the water purification business, five years after it sold off South Korea’s top water purification maker amid financial difficulties. In 2013, then cash-strapped Woongjin sold a 30.9 percent stake in Woongjin Coway Co. for about 1.2 trillion won (US$1 billion) to MBK [...]

S. Korean Car Sharing Startup Taps Malaysia

S. Korean Car Sharing Startup Taps Malaysia

SEOUL, Jan. 3 (Korea Bizwire) — South Korean car-sharing startup SoCar said Wednesday it will launch its business in Malaysia this month in its first overseas expansion. SoCar, a leading player in the country’s car-sharing industry, is planning to establish 120 zones with 240 automobiles in the Southeast Asian country, it said. Members who sign [...]

Home Shopping Channels Charge Biggest Commissions on Sales

Home Shopping Channels Charge Biggest Commissions on Sales

SEOUL, Dec. 27 (Korea Bizwire) – Home shopping TV channels charged the biggest commissions on sales this year compared with department stores, online malls and discount outlets, South Korea’s antitrust watchdog said Wednesday. Home shopping channels received an average 28.4 percent commission, the Fair Trade Commission said, citing its survey of 19 home shopping channels, department stores, online malls and large discount outlets. The comparable figures were 22 percent for department stores, [...]

Luxury Restaurants, Hotel Buffets Fully Booked for Year-end Holidays: Sources

Luxury Restaurants, Hotel Buffets Fully Booked for Year-end Holidays: Sources

SEOUL, Dec. 21 (Korea Bizwire) — Most luxury restaurants and buffet restaurants at major hotels in Seoul have almost been fully booked for Christmas and year-end holidays, industry sources said Thursday. Viking’s Wharf, a lobster buffet restaurant chain, said it has completed accepting reservations for tables at its outlets in Jamsil and Yeouido for the [...]