SEOUL, Dec. 16 (Korea Bizwire) — South Korea’s major corporations, including Samsung, SK, Hyundai, and LG, are closely monitoring the political and economic fallout following the impeachment of President Yoon Suk-yeol. As the nation grapples with heightened uncertainty, compounded by the anticipated inauguration of Donald Trump’s second U.S. presidency, businesses are taking cautious steps to [...]
SEOUL, Dec. 16 (Korea Bizwire) — Hanwha Aerospace Co., a major South Korean defense equipment manufacturer, said Monday it has appointed Michael Coulter, former president of global defense firm Leonardo DRS International, to oversee its overseas business operations. In the company’s newly created position of global defense CEO, Coulter will be responsible for overseeing the [...]
SEOUL, Dec. 13 (Korea Bizwire) — The transport ministry said Friday it will conduct a flight demonstration of a commercial-level air taxi model this week as part of a government project to introduce the urban air mobility (UAM) industry in the country. The ministry will demonstrate the operation of the S-4 model built by U.S. [...]
SEOUL, Dec. 11 (Korea Bizwire) — Korean Air Co. plans to finalize its acquisition of a controlling stake in rival Asiana Airlines Inc. on Wednesday, completing the merger deal between South Korea’s leading carriers that has been sought over the past four years, according to company officials. Korean Air plans to invest 1.5 trillion won [...]
SEOUL, Dec. 11 (Korea Bizwire) — The government said Wednesday it will work to enhance the competitiveness of the domestic aviation industry while minimizing potential monopolistic harm from the soon pending merger between Korean Air Co. and Asiana Airlines Inc. The transport ministry announced an aviation industry support plan during a meeting of industries-focused ministries held at [...]
SEOUL, Dec. 6 (Korea Bizwire) — Jin Air Co. a low-cost carrier subsidiary of industry leader Korean Air Co., said Friday it has acquired a new B737-8 aircraft to bring its total fleet volume to 31 units. Jin Air said the addition marks the company’s fourth new plane acquisition of the year. The company’s fleet [...]
SEOUL, Dec. 3 (Korea Bizwire) – Asiana Airlines announced that starting January 2, 2025, passengers will be required to stow their carry-on luggage in the overhead bins themselves, a policy change aimed at preventing injuries to both passengers and crew. Previously, flight attendants assisted passengers upon request, but frequent incidents of crew injuries, such as bruises [...]
SEOUL, Nov. 28 (Korea Bizwire) – With the European Union Commission granting final approval for the merger between South Korea’s two largest airlines, the nation’s aviation industry stands on the brink of a seismic shift that will create the country’s first “mega carrier.” The merger of Korean Air and Asiana Airlines promises better competitiveness through economies [...]
SEOUL, Nov. 26 (Korea Bizwire) – Korean Air announced on Tuesday that it will provide its seasonal “Coatroom Service,” offering free winter coat storage for passengers traveling to warmer destinations, from December 1, 2024, to February 28, 2025. First introduced in 2005, the service allows international passengers departing from Incheon International Airport’s Terminal 2 to store [...]
SEOUL, Nov. 26 (Korea Bizwire) — Hanwha Aerospace Co. said Tuesday it has won a 473 billion-won (US$336.6 million) contract from Korea Aerospace Industries Ltd. to supply components for South Korea’s next-generation KF-21 fighter jets. Under the deal, Hanwha Aerospace will supply key components, including the auxiliary power unit, as well as propulsion, landing, drive [...]