SEOUL, July 11 (Korea Bizwire) — Korean Air Co., South Korea’s leading air carrier, said Friday its net profit for the second quarter grew 13.4 percent from a year earlier thanks to stable demand in the company’s passenger services. The company’s net profit for the April-June period totaled 395.9 billion won (US$288.1 million) on a [...]
INCHEON, July 6 (Korea Bizwire) — Incheon International Airport has been recognized as having the world’s best airport staff by global aviation consultancy Skytrax, topping more than 570 airports in its annual World Airport Awards. Skytrax’s rankings, based on passenger surveys conducted across more than 100 countries between August 2024 and February 2025, evaluated the service [...]
SEOUL, June 30 (Korea Bizwire) — Kang Goo-young, president and chief executive officer (CEO) of Korea Aerospace Industries (KAI) Ltd., will step down this week, about three months ahead of the official end of his term, industry sources said Monday. Kang plans to resign from the CEO position of the South Korean aerospace and defense [...]
SEOUL, June 27 (Korea Bizwire) — Korea Aerospace Industries Co. (KAI), South Korea’s sole aircraft manufacturer, said Friday it has signed a 140 billion-won (US$103.3 million) contract with Collins Aerospace to supply engine components for Airbus aircraft. Under the agreement, KAI will supply engine nacelle components for Airbus A350 and A320 NEO aircraft over a [...]
SEOUL, June 26 (Korea Bizwire) — Hanwha Aerospace Co. said Thursday it has signed a 623.2 billion-won (US$459.3 million) follow-up contract with the state defense procurement agency to supply engines for South Korea’s next-generation KF-21 fighter jets. The agreement with the Defense Acquisition Program Administration (DAPA) builds on a previous engine supply deal worth 556.2 [...]
SEOUL, June 24 (Korea Bizwire) — Daemyung Sono Group virtually completed its acquisition of T’way Air Co. on Tuesday by holding an extraordinary shareholders’ meeting and appointing a new board of directors for the low-cost carrier. T’way Air held the extraordinary shareholders’ meeting at its aviation training center in Seoul and approved the appointment of [...]
SEOUL, June 20 (Korea Bizwire) — South Korea’s space agency said Friday it plans to develop a reusable space launch vehicle by 2035 in a bid to keep pace with the rapidly shifting landscape of the global space industry. The Korea AeroSpace Administration (KASA) has been working to modify its 2.1 trillion-won (US$1.53 billion) project [...]
SEOUL, June 13 (Korea Bizwire) — South Korea and Indonesia have finalized a deal to slash Jakarta’s contribution to the joint KF-21 fighter jet project to 600 billion won (US$443 million), about one-third of the original amount, Seoul’s defense procurement agency said Friday. The two sides signed the agreement at an arms exhibition in Jakarta [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday that it has rejected a proposed mileage integration plan submitted by Korean Air Lines Co. and Asiana Airlines Inc., citing insufficient details and consumer benefit concerns. The Fair Trade Commission (FTC) said the plan, submitted earlier in the day as part of the [...]
![[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila](http://koreabizwire.com/wp/wp-content/uploads/2025/06/an-FA-50-fighter-landing-at-an-air-base-in-the-southwestern-city-of-Gwangju.-.jpg "[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila")
SEOUL, June 4 (Korea Bizwire) — South Korean defense firm Korea Aerospace Industries Ltd. (KAI) has signed a deal with the Philippine defense ministry to export 12 FA-50 light attack fighters by 2030, the state arms procurement agency said Wednesday. The US$700 million deal signed Tuesday marks the second round of FA-50 exports to Manila, [...]