SEOUL, May 1 (Korea Bizwire) — LIG Nex1 Co., a major South Korean defense and aerospace company, said Thursday it has signed a 320.7 billion-won (US$224 million) deal to develop the Chollian Satellite 5, South Korea’s next-generation geostationary weather satellite. The satellite project will be carried out in collaboration with the Korea Meteorological Administration, the [...]
SEOUL, May 1 (Korea Bizwire) — Jeju Air Co. said Thursday it will launch a new route to Hakodate, Japan, next month to expand its service network to the neighboring country amid growing summer travel demand. The South Korean low-cost carrier will begin operations on the Incheon-Hakodate route with two weekly flights starting June 5 [...]
SEOUL, April 30 (Korea Bizwire) – Korean Air Lines Co., South Korea’s leading air carrier, said Wednesday it plans to invest 1.2 trillion won (US$844.3 million) to establish a next-generation aviation research and training hub in Bucheon, west of Seoul. The company plans to break ground on the 65,800 square-meter facility in 2027, with the [...]
CHANGWON, South Korea, April 27 (Korea Bizwire) – Hanwha Aerospace Co. is seeking to join a U.S. Department of Defense initiative to establish a network of military repair hubs in the Indo-Pacific, a move that could significantly enhance the combat readiness of U.S. Forces Korea (USFK) and strengthen South Korea’s strategic role in allied security [...]
SEOUL, April 22 (Korea Bizwire) — South Korea successfully launched its fourth homegrown military spy satellite from a U.S. space base in Florida, the defense ministry said Tuesday, in efforts to strengthen its independent surveillance capabilities on North Korea. A SpaceX Falcon 9 rocket, carrying the spy satellite, lifted off at 8:48 p.m. Monday (U.S. [...]
SEOUL, April 20 (Korea Bizwire) — South Korea’s Incheon International Airport ranked third in international passenger traffic last year, its highest ranking since opening in 2001, the airport’s operator said Sunday. The country’s main airport, located about 45 kilometers west of Seoul in Incheon, previously ranked seventh in 2023 and fifth in both 2018 and [...]
SEOUL, April 18 (Korea Bizwire)- South Korea’s Asiana Airlines Inc. on Friday came under fire for mislabeling two Ukrainian cities as part of Russia on its in-flight infotainment system, drawing criticism from Ukrainian nationals and social media users. According to a passenger who shared a photo on Instagram, the cities of Dnipro (formerly Dnepropetrovsk) and [...]
SEOUL, April 17 (Korea Bizwire) – South Korean defense giant Hanwha Aerospace Co. said Thursday it has signed a memorandum of understanding (MOU) with a Romanian university to expand industry-academia collaborations in the Eastern European country. The trilateral agreement with the University of Science and Technology Politehnica Bucharest and South Korea’s Pusan National University aims [...]
SEOUL, April 16 (Korea Bizwire) — Senior Air Force officials from South Korea and the United Arab Emirates (UAE) on Wednesday signed a letter of intent for comprehensive cooperation on the South’s homegrown fighter jets, the South Korean Air Force said. Air Force Chief of Staff Gen. Lee Young-su and Maj. Gen. Rashed Mohammed A. [...]
SEOUL, April 11 (Korea Bizwire) — Korean Air Co., South Korea’s leading air carrier, said Friday its first-quarter sales rose 3 percent on-year thanks to increased demand in both the passenger and cargo business divisions. Sales for the three-month period ending in March reached 3.96 trillion won (US$2.7 billion), while operating profit dropped 19 percent [...]