SEOUL, Jul. 29 (Korea Bizwire) — Korean Air Lines Co., South Korea’s top carrier, said Monday it will suspend its Busan-Sapporo route from September as travel demand to Japan declines amid escalating trade tension between the two nations. Korean Air plans to cease its three regular weekly flights between the Korean southern port city and [...]
SEOUL, Jul. 29 (Korea Bizwire) — As the number of users has surged due to the recent expansion of electric scooter sharing services, related traffic accidents are also on the rise. The majority of the accidents were found to be caused by the user’s poor adherence to traffic regulations. According to Samsung Fire & Marine [...]
SEOUL, Jul. 24 (Korea Bizwire) — Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, looks set to begin the process of selling its airline unit this week as part of broad restructuring efforts, industry sources said Wednesday. “The group is likely to give a public bidding notice on Thursday or Friday to sell its entire [...]
SEOUL, Jul. 23 (Korea Bizwire) — South Koreans who prefer spending time at hotels rather than the beach or the mountains for summer vacation have doubled in number since last year. The Korea Transport Institute revealed on Monday that 18.8 percent of the respondents in a survey chose ‘vacation packages at hotels or shopping’ as [...]
SEOUL, Jul. 23 (Korea Bizwire) — As housing shortages continue and crimes threaten single-person households, shared houses are becoming increasingly popular for their cost-effectiveness and stability benefits. On Monday, the house-sharing platform Come&Stay Co. unveiled the findings of a recent survey that showed that the preference for house sharing was growing fast. The survey was [...]
SEOUL, Jul. 22 (Korea Bizwire) — South Korean pharmaceutical companies are scrambling to produce generic drugs as the government plans to introduce a new policy to prevent unchecked production of generic drugs in the near future. The companies are attempting to secure as many permits as possible before the new policy kicks in and various [...]
SEOUL, Jul. 19 (Korea Bizwire) — Amid Japan’s recent trade offensive against South Korea and the ensuing boycott movement in the nation against Japanese products, Coupang Inc., a major e-commerce platform in the country, is suffering from accusations that it is a Japanese company. The accusers point to the fact that Masayoshi Son, a Korean [...]
SEOUL, Jul. 18 (Korea Bizwire) — A prolonged dispute between the taxi industry and the mobility service industry is drawing to a close as the Ministry of Land, Infrastructure and Transport announced new regulations on Wednesday obligating mobility platforms to pay public donations. The ministry also decided to restrict all mobility platforms except for those [...]
SEOUL, Jul. 17 (Korea Bizwire) — In what could signal an end to a monthslong tussle between conventional taxi service providers and new mobility platform operators, the government on Wednesday proposed easing regulations for new ride services, while outlining measures to support the taxi service industry. The taxi industry has been at odds with ride-sharing [...]
SEOUL, Jul. 16 (Korea Bizwire) — Leading businesses in the sharing economy such as Uber and Airbnb are taking center stage in the controversy that has erupted over the future of these types of enterprises in South Korea, which many believe is due to strong opposition from older companies. The Korea Development Institute conducted a [...]