SEOUL, Aug. 20 (Korea Bizwire) — Korean Air Lines Co. said Tuesday it will reduce more flights to Japan in the coming months due to lower travel demand to the neighboring country amid a trade dispute. Demand on the Japanese routes has been on a sharp decline since last month when Japan implemented export restrictions [...]
SEOUL, Aug. 19 (Korea Bizwire) — Stock prices of Asiana Airlines Inc., South Korea’s second-biggest airline, jumped 11 percent on Monday following news that a local activist fund is considering taking over the company. Asiana shares soared 26 percent to an intraday high of 6,240 won before closing at 5,500 won. The broader KOSPI gained [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korea’s two full-service carriers said Monday they will suspend some domestic cargo services beginning in October as parts of efforts to trim its ballooning losses. Starting Oct. 1, Korean Air Lines Co. and Asiana Airlines Inc. said they plan to halt cargo delivery services at the country’s three [...]
SEOUL, Aug. 18 (Korea Bizwire) – South Korean airlines have seen their shares tumble since July as more locals shun tours to Japan amid trade tension between the two nations, data showed Sunday. The combined market value of six airlines listed on the main KOSPI market was estimated at 4.8 trillion won (US$4 billion) as [...]
SEOUL, Aug. 16 (Korea Bizwire) — The threshold for luxury hotels has been lowered, with the concept of ‘hocance’, a combination of “hotel + vacation” becoming one of the most common forms of travel. Even if guests do not stay overnight, hotels are turning into a place where guests can spend few hours together by [...]
SEOUL, Aug. 16 (Korea Bizwire) — The government has begun full-fledged discussions on levying taxes and funds for online video services, a so-called “YouTube tax.” The Ministry of Science and ICT recently asked the Korea Legislation Research Institute, a government-funded research institute, to carry out research projects on overseas trends of digital taxes, including YouTube [...]
SEOUL, Aug. 14 (Korea Bizwire) — Recently, there has been a campaign on SNS to “not order parcels” so that delivery workers can get a proper rest. The move came after the Korean Confederation of Trade Unions (KCTU) proposed a campaign for the public to join forces to guarantee that workers would be able to [...]
SEOUL, Aug. 14 (Korea Bizwire) — The number of air passengers on routes between South Korea and Japan dipped during the peak summer vacation season amid an escalating bilateral trade spat, government data showed Wednesday. The passenger load factor for flights to and from Japan averaged 71.5 percent during the first week of August, down [...]
SEOUL, Aug. 12 (Korea Bizwire) — Boulevard Erkindik, located in the heart of downtown Bishkek, the capital of Kyrgyzstan, is home to one of the most popular restaurants in town – Chicken Star, which was launched in May 2015 by Chung Chi-hoon, a 37-year-old Korean. TripAdvisor, the world’s largest travel information website, ranked Chicken Star [...]
SEOUL, Aug. 8 (Korea Bizwire) — The number of single-bedroom share houses is increasing sharply in line with demand from the millennials, with many young South Koreans prioritizing independence from their parents. According to a survey conducted by the house-sharing portal Come&Stay Co., the number of single-person rooms grew by about 83 percent compared to [...]