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Has Okja Effect Worn Off? Netflix Subscriptions Plunge Days After the Movie Release

Has Okja Effect Worn Off? Netflix Subscriptions Plunge Days After the Movie Release

SEOUL, Jul. 27 (Korea Bizwire) — A new industry report claims that streaming service Netflix failed to take advantage of its original film ‘Okja’ in South Korea despite the hype for the star-dusted cast and high-profile film director Bong Joon-ho, as subscription figures have plunged only days after the movie was released. The report released on Thursday [...]

Popularity of Low Cost Carriers Soars to the Detriment of Korean Air and Asiana

Popularity of Low Cost Carriers Soars to the Detriment of Korean Air and Asiana

SEOUL, Jul. 25 (Korea Bizwire) — Customers are increasingly forgoing established airlines such as Korean Air and Asiana Airlines for cheaper options. On July 24, the Ministry of Land, Infrastructure and Transport released figures that show the overall number of travelers opting for low cost carriers (LCC) for international travel steadily increased from January (24.1 [...]

Samsung BioLogics Suffers Operating Loss During Second Quarter

Samsung BioLogics Suffers Operating Loss During Second Quarter

SEOUL, July 24 (Korea Bizwire) – Samsung BioLogics, a biopharmaceutical unit of South Korea’s top conglomerate Samsung Group, suffered a loss in the second quarter despite a rise in sales, the company said Monday. Sales jumped 33 percent on-year to 63.2 billion won (US$57 million) during the April-June period, the company said in a regulatory [...]

Kakao Spins Off Transportation Services Unit

Kakao Spins Off Transportation Services Unit

SEOUL, Jul. 24 (Korea Bizwire) — The division at Kakao Corp responsible for its taxi-hailing and chauffeur services is being separated from South Korea’s largest messaging company, and will be launched as an independent entity next week. Starting in August, Kakao Mobility will operate as an independent entity, separated from its parent company Kakao Corp, [...]

Jin Air Adds B737-800 to Strengthen Fleet Amid Growing Demand

Jin Air Adds B737-800 to Strengthen Fleet Amid Growing Demand

SEOUL, July 24 (Korea Bizwire) – Jin Air Co., the budget carrier unit of Korean Air Lines Co., said on Monday it added a B737-800 jet to its growing fleet to meet demand during the summer peak season. With the addition of the B737-800, Jin Air’s fleet is now composed of 20 B737-800s and four long-range B777-200ERs, all leased from U.S. aircraft manufacturer [...]

Airlines Hit with Fines and Suspension of Pilots for Accidents

Airlines Hit with Fines and Suspension of Pilots for Accidents

SEOUL, July 20 (Korea Bizwire) – Asiana Airlines was fined 900 million won (US$802,282) for a runway accident two years ago and the pilot responsible stripped of his license, the transport ministry said Thursday while announcing a series of punitive actions against carriers. Korean Air Lines Co. was ordered to pay 600 million won in [...]

IMAX Ticket Sales Drop Over High Prices, Lack of Movie Choice

IMAX Ticket Sales Drop Over High Prices, Lack of Movie Choice

SEOUL, Jul. 20 (Korea Bizwire) — Sales of IMAX movie tickets along with 3D and 4D films in South Korea drastically dropped during the first half of the year, a new industry report has revealed. According to the report on the South Korean movie industry released by the Korean Film Council (KOFIC) on Wednesday, the number [...]

High-Quality Online Music Service the Next Big Thing

High-Quality Online Music Service the Next Big Thing

SEOUL, Jul. 18 (Korea Bizwire) — As the number of high-spec smartphone users continues to rise in South Korea, and with the music industry eyeing new business models, high quality music downloading and streaming services are no longer the exclusive property of audio system lovers. Similar to how the broadcasting industry has been progressing from [...]

Could Netflix Replace Chinese Market for Korean Dramas?

Could Netflix Replace Chinese Market for Korean Dramas?

SEOUL, Jul. 17 (Korea Bizwire) — Global streaming service Netflix is rapidly emerging as a promising alternative for the South Korean TV industry, as political tension with China, once the biggest export destination of South Korean TV shows, has put a strain on local content creators. Netflix’s recent purchases of South Korean TV series such as [...]

The Rise & Fall of Exclusive Golf Clubs

The Rise & Fall of Exclusive Golf Clubs

SEOUL, Jul. 14 (Korea Bizwire) — Once compared to gold mines for their profit generating ability, members only golf club have begun to lose their luster. In the late 90′s, North Chungcheong Province was famous for its premier golf courses. One of them was so well-known, the golf course operated shuttle buses that traversed the country, [...]