SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s advertising market grew at the fastest-ever pace in 2021 on a surge in digital advertisements amid the coronavirus pandemic, a report showed Thursday. Advertising expenses in Asia’s fourth-largest economy amounted to 13.99 trillion won (US$11.7 billion) last year, up 20.4 percent from a year earlier, according to [...]
SEOUL, Feb. 8 (Korea Bizwire) — Delta Air Lines Inc. anticipates the launch of its new service from Incheon to Portland, Oregon, later this year as international demand recovers from the impact of the COVID-19 pandemic, a company executive has said. The U.S. airline had originally planned to begin services on the route in September [...]
SEOUL, Jan. 24 (Korea Bizwire) – The so-called ‘token economy’ is expanding, in which companies give out tokens that can be exchanged for tangible and intangible goods to provide incentives to consumers to draw out certain behavior. Home training service platform Yafit Cycle, run by online education startup Yanadoo, is selling tablet PC-equipped cycling machines [...]
SEOUL, Jan. 24 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Monday it will adopt a cargo plane for the first time among local LCCs to ride out the prolonged COVID-19 pandemic. Jeju Air plans to begin operating a cargo plane in the first half of this year to offset a [...]
SEOUL, Jan. 19 (Korea Bizwire) — The local market for middle-mile delivery, a business-to-business (B2B) logistics that delivers goods from factories to logistics warehouses or sales outlets by truck, is emerging as a new battleground for mobility platforms. T Map Mobility, a mobility unit under telecom operator SK Telecom Co., acquired a 100 percent stake [...]
SEOUL, Jan. 17 (Korea Bizwire) — Amid a decline in the number of passengers on international routes due to the aftereffects of the COVID-19 pandemic, South Korea’s two full-service carriers, Korean Air Lines Co. and Asiana Airlines Inc., which are scheduled to be merged, are expanding the scope of mileage redemption policies as part of [...]
SEOUL, Jan. 11 (Korea Bizwire) — As ‘fast delivery’ competition is flaring up among major retailers, the number of new delivery and logistics startups is increasing with the market demand for them rising at an explosive pace. Given that it’s difficult for retailers to establish their own logistics networks, businesses that deliver goods via motorbikes [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has been focusing on an offensive strategy to bulk up while tolerating losses, but recently began raising service charges as part of efforts to make a strategic shift. The company raised monthly subscription fees for Wow membership from 2,900 won (US$2.43) to 4,990 [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it will accelerate the review of a deal by Korean Air Lines Co., the country’s biggest carrier, to buy the debt-ridden Asiana Airlines Inc. In November 2020, Korean Air inked a deal to acquire a 63.88 percent stake in its smaller rival Asiana [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s low-cost carriers said Monday they have delayed or reduced their flights on international routes due to the spread of the omicron variant. Air Seoul Inc., a budget carrier unit of Asiana Airlines Inc., has delayed its planned flights to Guam from Jan. 29 to March 27. Air [...]