SEOUL, March 31 (Korea Bizwire) — Korean Air Co., South Korea’s largest airline, said Wednesday it plans to launch a merged entity with its smaller rival Asiana Airlines Ltd. in 2024 after completing a takeover process next year. Korean Air, which announced plans to acquire the debt-ridden Asiana for 1.8 trillion won (US$1.6 billion) in [...]
SEOUL, March 31 (Korea Bizwire) — With live commerce, or TV home shopping-style mobile shopping, emerging as a major online shopping trend in the COVID-19 era, South Korea’s major retailers are scrambling to jump on the bandwagon. Lee Sang-ho, CEO of online shopping platform 11st, said Thursday in the shareholder meeting of SK Telecom Co., [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s top food delivery app Baedal Minjok, or Baemin, saw its sales nearly double in 2020 from a year earlier amid the coronavirus pandemic, its operator said Tuesday. Baemin’s top line stood at 1.09 trillion won (US$960 million) last year, up 94.4 percent from a year earlier, according [...]
SEOUL, March 24 (Korea Bizwire) — South Korean low-cost carriers (LCCs) are struggling with high indebtedness stemming from huge deficits due to the coronavirus pandemic, data showed Wednesday. The debt-to-equity ratio of three major LCCs — Jeju Air Co., Jin Air Co. and T’way Air Co. — ranged from 430 percent to 517 percent as [...]
SEOUL, March 16 (Korea Bizwire) – South Korean airlines will impose fuel surcharges on international routes next month after a one-year hiatus due to soaring jet fuel prices, industry sources said Tuesday. Starting April 1, the surcharge for one-way tickets on international routes will range from 3,600 won (US$3.2) to 24,000 won depending on routes, [...]
SEOUL, March 15 (Korea Bizwire) – Asiana Airlines Inc., South Korea’s second-biggest carrier, said Monday it will extend the expiration dates of its mileage that will expire at the end of this year by one year to 2022 amid the COVID-19 pandemic. Asiana Airlines already extended mileage points due to expire at the end of [...]
SEOUL, March 12 (Korea Bizwire) – South Korean e-commerce grocer Market Kurly said Friday it has decided to go public within this year and is exploring whether to make its stock market debut at home or in the United States. “We received positive statements from our accounting consultants about going public within this year,” Market [...]
SEOUL, March 12 (Korea Bizwire) — South Korean airlines struggling with the coronavirus pandemic are joining hands with IT firms, hotels, and duty-free stores in an attempt to boost revenue. Korean Air Lines Co. and Naver Corp. signed an agreement last month to enable ticketing and check-ins via Naver’s online portal. The South Korea’s biggest [...]
WASHINGTON, March 11 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. made a splash in its landmark debut on the New York Stock Exchange on Thursday at an initial public offering price of US$35 each. The IPO price is higher than an earlier proposed range of $32 to $34. With 130 million shares offered, Coupang [...]
SEOUL, March 11 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Thursday said its initial public offering price was set at US$35 per share for its landmark debut on the New York Stock Exchange (NYSE), paving the way for the company to raise $4.5 billion with its value at around $63 billion. The [...]