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Korean Air Partners with Boeing for UAV Development

Korean Air Partners with Boeing for UAV Development

SEOUL, Oct. 22 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Friday it has partnered with Boeing to jointly develop an unmanned aerial vehicle (UAV) in preparation for future mobility demand. Korean Air signed a memorandum of understanding with Boeing’s subsidiary Insitu for technical cooperation to develop a lightweight and modularized [...]

Strict Regulations Place E-scooter Sharing Market on Edge

Strict Regulations Place E-scooter Sharing Market on Edge

SEOUL, Oct. 21 (Korea Bizwire) — The electric scooter sharing market is facing a downturn as it struggles with various regulations including ‘immediate towing of illegally parked scooters,’ ‘mandatory driver’s license,’ ‘mandatory helmets’ and more. Wind Mobility, a Berlin-based mobility startup, recently decided to pull back from South Korea after struggling to operate 2,000 scooters [...]

Coworking Industry Turns to Subway Stations and Residential Areas

Coworking Industry Turns to Subway Stations and Residential Areas

SEOUL, Oct. 19 (Korea Bizwire) — Coworking spaces that once filled up downtowns and skyscrapers are now being set up in subway stations and residential areas following the coronavirus outbreak, targeting demand for ‘near-home offices’ that resolve the shortcomings of working at home while reducing commuting time. Coworking space providers like Fast Five, WeWork and [...]

Yanolja to Acquire 70 pct Stake in Interpark’s E-commerce Businesses

Yanolja to Acquire 70 pct Stake in Interpark’s E-commerce Businesses

SEOUL, Oct. 14 (Korea Bizwire) — Yanolja Co., a leading South Korean travel platform operator, said Thursday that it signed an agreement to buy a 70 percent stake in e-commerce businesses of Interpark Corp. for 294 billion won (US$248 million). Yanolja said its move to acquire Interpark’s travel, performing arts, shopping and book businesses is [...]

Jeju Air to Raise 127 bln Won via Stock Sale for Post-pandemic Biz

Jeju Air to Raise 127 bln Won via Stock Sale for Post-pandemic Biz

SEOUL, Oct. 14 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest budget carrier, said Thursday it will raise 127 billion won (US$107 million) by selling stocks in preparation for the post-coronavirus era. Jeju Air plans to issue 11.26 million shares at 18,350 won per share to employees and existing shareholders from Oct. 18-19 and [...]

Toss to Jump into Taxi-hailing Business After Acquiring VCNC

Toss to Jump into Taxi-hailing Business After Acquiring VCNC

SEOUL, Oct. 12 (Korea Bizwire) — South Korea’s taxi-hailing market, dominated by internet giant Kakao Corp.’s mobility unit, is facing a new challenger. Viva Republica Inc., the operator of financial app Toss, recently acquired 60 percent stake in VCNC, the company behind ride-hailing service Tada. Tada currently operates a taxi-hailing app after its popular van-hailing [...]

Asiana to Resume Business Class Services on Domestic Flights After 18-year Hiatus

Asiana to Resume Business Class Services on Domestic Flights After 18-year Hiatus

SEOUL, Oct. 11 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline, will resume offering business class services on domestic flights starting next month, industry insiders said Monday, as it tries to improve profitability amid the COVID-19 pandemic. Asiana will begin running business class cabins on select domestic flights Nov. 5, according to company [...]

Catering Firms Develop Variety of Services Using State-of-the-Art Technology

Catering Firms Develop Variety of Services Using State-of-the-Art Technology

SEOUL, Sept. 29 (Korea Bizwire) — An increasing number of catering companies are going beyond the limit of providing simple meals towards supporting health management and improvement of dietary habits using state-of-the-art technology. CJ Freshway Corp., a food distribution and catering affiliate of CJ Group, teamed up with food data analysis start-up NUVI Lab in [...]