BEIJING, July 25 (Korea Bizwire) — Korean Air Lines Co. said Friday it will resume flights to Tianjin, northeast China, next week after five months of suspension due to the new coronavirus outbreak. The flights between Incheon, west of Seoul, and Tianjin will run every two weeks on Tuesdays during July and August and every [...]
SEOUL, July 23 (Korea Bizwire) — South Korea’s food delivery app market has turned into a money game, putting the market leader Baedal Minjok – typically referred to as Baemin – in a crisis code. To expand their presence in the rapidly growing food delivery app market, latecomers, armed with abundant capital, are chasing the [...]
SEOUL, July 23 (Korea Bizwire) — Debt-ridden Eastar Jet Co. may face bankruptcy after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the new coronavirus’ impact on the airline industry, sources said Thursday. Jeju Air, South Korea’s biggest low-cost carrier, said earlier in the day that it has decided to [...]
SEOUL, July 22 (Korea Bizwire) — With the ongoing spread of the coronavirus, the struggling duty-free industry is tapping into third-party foreign transfer for a sales breakthrough to address concerns that Chinese parallel traders may leave the South Korean market following recent measures by the Chinese government to bolster domestic duty-free businesses. The Korea Customs [...]
SEOUL, July 22 (Korea Bizwire) – Kakao Mobility, a South Korean firm that provides ride-hailing and driver-for-hire services, had signed a business cooperation agreement with GS Caltex Corp. on Tuesday to promote the use of electric bicycles. GS Caltex, the second-biggest refiner by sales in South Korea, will install and run battery-charging facilities for Kakao [...]
SEOUL, July 21 (Korea Bizwire) — Amid the hype for Starbucks Korea’s small suitcases offered under its reward program, customers’ competition to get camping chairs, another promotional item, ran high Tuesday ahead of an end to the seasonal event. On May 21, Starbucks kicked off a summer promotional event that will run until Wednesday to [...]
BEIJING, July 20 (Korea Bizwire) — South Korea’s leading cinema chain CGV reopened in parts of China Monday, as the country allowed movie theaters to resume operation after six months of closure amid the slowdown of the new coronavirus. CGV resumed business at 21 branches in 12 Chinese cities, including Shanghai, Hangzhou, Guangzhou, Nanjing and [...]
SEOUL, July 10 (Korea Bizwire) – The South Korean unit of U.S. tech giant Google Inc. has paid the local tax office 600 billion won (US$501 million) in back corporate taxes, sources said Friday. Google Korea made the payment in January after the National Tax Service (NTS) slapped the penalty tax on the company for [...]
SEOUL, July 7 (Korea Bizwire) — Korean Air Lines Co., the country’s biggest carrier, said Tuesday it will sell its in-flight catering and duty-free business to a private equity fund amid the growing impact of the coronavirus on the airline industry. Korean Air’s board of directors signed a memorandum of understanding with Hahn & Company [...]
SEOUL, June 29 (Korea Bizwire) — Eastar Jet Co. said Monday its founding family members will donate their stake in Eastar in a move to bring Jeju Air Co.’s stalled takeover of the smaller budget carrier back on track amid concerns over potential rupture. Rep. Lee Sang-jik of the ruling Democratic Party, Eastar Jet’s founder, [...]