SEOUL, Feb. 8 (Korea Bizwire) – Korean Air Lines Co., South Korea’s national flag carrier, said Thursday it swung to a net profit in 2017, after posting a net loss a year earlier, on increased passenger demand and foreign-exchange gains. For the whole year, Korean Air shifted to a net profit of 801.9 billion won [...]
SEOUL, Jan. 30 (Korea Bizwire) — Hotel Lotte Co., the hotel unit of South Korean retail giant Lotte, said Tuesday it will open the third chain of its lifestyle brand L7 in Seoul this week as it attempts to attract more young visitors. The new chain in Hongdae, a major tourist destination in western Seoul, [...]
SEOUL, Jan. 26 (Korea Bizwire) — SK Holdings, the holding firm of South Korean energy and telecom conglomerate SK Group, said Thursday it has launched a car-sharing business in Malaysia by joining hands with South Korea’s No. 1 car-sharing startup SoCar. SoCar Malaysia — a joint venture between SK Holdings and SoCar — kicked off [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s top Internet portal operator Naver Corp. on Thursday reported a record-breaking annual performance for last year on the back of strong performances by its major businesses. Operating income reached 1.17 trillion won (US$1.1 billion) on sales of 4.67 trillion won in 2017, marking on-year rises of 7 [...]
SEOUL, Jan. 22 (Korea Bizwire) — Handsome, a local apparels brand, said Monday it is launching a new service for customers to have their selected clothes delivered and tried on at home before deciding on any purchases. Online shoppers can pick up to three pieces of clothing to be delivered to their residence at a [...]
SEOUL, Jan. 18 (Korea Bizwire) — With the three major telecom operators SK Telecom, KT and LG Uplus closing the gap in affordable pricing for phones and rate plans since last September, South Korea’s mobile virtual network operators (MVNO) are increasingly losing customers while simultaneously failing to attract new users. Unlike the triumvirate of traditional [...]
SEOUL, Jan. 16 (Korea Bizwire) – A “taxi lease” system currently being deliberated on by Seoul city officials is drawing conflicting opinions from within the taxi industry, with some in support and others adamantly opposed. Under the taxi lease system, cab drivers will make lease payments to the taxi company for their taxi license and [...]
SEOUL, Jan. 5 (Korea Bizwire) – Ride sharing services haven’t taken off in South Korea due to safety concerns and discomfort with meeting strangers, a new study has found. According to the joint study conducted by the Korea Startup Forum and Research & Research, fewer than 2 in 10 South Koreans have used a ride [...]
BUSAN, Jan. 4 (Korea Bizwire) – The South Korean shipping industry will have to spend a minimum of five trillion won to return its shipping container capacity to normal levels, a report has claimed. According to the report released by the Korea Maritime Institute on Wednesday, Hyundai Merchant Marine, which is the largest shipbuilding company [...]
SEOUL, Jan. 3 (Korea Bizwire) – Jin Air Co., the budget unit of Korean Air Lines Co., has launched a new route to Johor Bahru in Malaysia, company officials said Wednesday, in the latest move to expand its services in the region. The debut service began on Tuesday when a B777-200ER aircraft with 393 seats left for Johor Bahru in southern Malaysia from Incheon International Airport, South Korea’s main gateway. Jin Air said [...]