SEOUL, Feb. 4 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday its net losses narrowed in 2020 from a year earlier, as it offset the pandemic-caused slump in passenger travel with increased cargo deliveries and enjoyed decent gains from an asset sale. Net losses narrowed to 291.45 billion won (US$260 [...]
SEOUL, Feb. 4 (Korea Bizwire) — As Korean Air Lines Co. is planning for the introduction of “flights to nowhere” packages, domestic airlines are stepping up to overcome the crisis caused by the coronavirus. The South Korea’s top airline plans to introduce a first ‘flight to nowhere’ package on Feb. 27 that will fly over [...]
SEOUL, Feb. 2 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics firm, announced on Monday the launch of the CJ Logistics Cargo Tracking system that uses artificial intelligence (AI) technology to accurately calculate the arrival time of a cargo vessel. This system calculates vessels’ arrival time at ports by applying 18 machine [...]
SEOUL, Feb. 1 (Korea Bizwire) — Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, saw the share of non-affiliate sales in its pure car and truck carrier (PCTC) operations reach an all-time high at 55 percent last year. Non-affiliate sales refer to the revenue it gained from other companies, excluding its affiliated Hyundai [...]
SEOUL, Jan. 28 (Korea Bizwire) — Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, has added air cargo to its business portfolio, establishing a strategic base of operations in Germany. The company announced on Wednesday that it recently opened a branch for a new air freight forwarding division at Frankfurt Airport. This move [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Koreans likely spent more than 12 trillion won (US$10.9 billion) on the country’s top two food delivery services, Baedal Minjok and Yogiyo, last year amid the stay-at-home trend driven by the pandemic, data showed Tuesday. Total credit card and mobile transactions on the delivery services reached an estimated [...]
SEOUL, Jan. 25 (Korea Bizwire) — Travel agencies struggling with the ongoing pandemic are turning to selling imports of specialty goods in a bid to limit their losses. Very Good Tour Co. recently sold 3,000 cans of olive oil from Valencia, Spain in just three hours after their release. The company has been importing high [...]
SEOUL, Jan. 25 (Korea Bizwire) — Credit card companies are competing over Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, releasing new cards with exclusive benefits including free, limited editions of smartphone cases and higher discounts. Hyundai Card Co. recently released its new Starbucks Hyundai Card, which offers Starbucks reward points [...]
SEOUL, Jan. 22 (Korea Bizwire) – Korean Air Lines Co., South Korea’s biggest carrier, said Friday it will raise a higher than previously planned amount by selling stocks for its planned acquisition of smaller rival Asiana Airlines Inc. Korean Air plans to sell 3.3 trillion won (US$3 billion) worth of new stocks, which is higher than [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korean low cost airline market is bound to change with the emergence of both new and giant low-cost carriers (LCCs). Air Premia Co. reportedly plans to introduce Boeing 787-9 aircraft next month and receive an air operator certificate (AOC) from the Ministry of Land, Infrastructure and Transport. While [...]