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Archive by category Services

Asiana Airlines Q3 Net Plunges 81% Due to Lower China Demand

SEOUL, Nov. 9 (Korea Bizwire) – Asiana Airlines Inc., South Korea’s second-largest airline by sales, said Thursday its third-quarter net profit plunged 81percent, hit by lower demand from China. Its heavy dependence on travel demand from China and other Asian countries resulted in poor performance in the July-September period. Net profit for the three months nosedived to 28.8 billion won (US$26 million) from 152.6 billion won a year earlier, the company said [...]

LG Rolls Out Assistant Robots at Starfield Hanam

SEOUL, Nov. 9 (Korea Bizwire) — LG Electronics is introducing assistant robots at one of the biggest shopping malls in South Korea. The robots will be serving as helpers to provide information to visitors and help them locate stores and other facilities at the mall. “Two of our assistant robots have been deployed for an on-site [...]

SK Telecom Stalling on Gov’t Plans to Lower Phone Bills

SEOUL, Nov. 9 (Korea Bizwire) – The South Korean government and the nation’s leading telecom company, SK Telecom, are having trouble seeing eye-to-eye on the mandate to reduce the cost of phone bills. On November 8, the two sides concluded negotiations over wholesale prices of mobile virtual network operators (MVNO) – low-cost mobile service providers. [...]

Hotel Shilla Opens Another Airport Duty-Free Shop in Singapore

SEOUL, Nov. 7 (Korea Bizwire) – Hotel Shilla Co. said Tuesday it has opened another duty-free outlet at a new airport terminal in Singapore, as it attempts to expand its presence in the overseas market. The new outlet at Changi Airport’s Terminal 4 has 117 cosmetics and fragrance brands, including 16 South Korean ones, the [...]

South Korean Retail Giants Apply for Duty-Free License in Jeju Airport

SEOUL, Nov. 6 (Korea Bizwire) – South Korea’s three leading retailers have submitted their bids to run a duty-free business at an airport on the country’s resort island of Jeju, its operator said Monday, amid signs that Chinese tourists may return in force. Lotte Duty Free, Shilla Duty Free and Shinsegae DF applied to operate a duty-free store at Jeju International Airport, according to Korea Airports Corp. (KAC). The [...]

Thawing Chinese Relations a Welcome Sign for Real Estate Market

SEOUL, Nov. 3 (Korea Bizwire) – The Ministry of Foreign Affairs’ announcement on October 31 that relations between South Korea and China will be normalized was music to the ears of the real estate industry, which has seen the market for high-end hotel room investors dwindle throughout the Chinese economic boycott. The geopolitical tensions and [...]

CJ to Sell Pharmaceutical Affiliate

SEOUL, Nov. 3 (Korea Bizwire) – Foods-to-entertainment conglomerate CJ Group said Friday it decided to sell off its 34-year-old pharmaceutical affiliate CJ Healthcare due to the limitations of its domestic business. Morgan Stanley has been named the underwriter for the sale that industry watchers expect to exceed 1 trillion won (US$898.87 million), the affiliate’s estimated [...]

Samsung Teams Up with WeWork to Open Customer Service “Care Centers”

SEOUL, Nov. 1 (Korea Bizwire) – Samsung Electronics America and co-working office space provider WeWork have joined hands to open customer service areas à la Apple ‘s Genius Bar, according to an October 30 report from American business magazine Fast Company. Genius Bars are customer service areas within Apple Stores that are staffed with employees [...]

Jin Air to Raise Up to 382 Billion Won in IPO This Year

SEOUL, Oct. 31 (Korea Bizwire) – Jin Air Co., the low-cost carrier unit of Hanjin KAL Corp., said Tuesday it will raise over 300 billion won (US$268 million) through its planned initial public offering in December for the expansion of its fleet and routes. The nine-year-old budget carrier plans to place 9 million existing stocks [...]

Japan Benefits from Rising Korean Tourists over THAAD Row

SEOUL, Oct. 30 (Korea Bizwire) — A record number of South Koreans traveled to Japan in the January-September period this year, data showed Monday, as favorable exchange rates and diplomatic tensions with Beijing moved their destination away from China. Over 5.21 million South Koreans visited Japan during the cited months, according to the Japan National [...]