SEOUL, Apr. 5 (Korea Bizwire) — Hanwha Aerospace Co., a South Korean defense company, said Friday it will focus on the defense and aviation business after spinning off two affiliates by September. Hanwha Aerospace will spin off its two wholly owned units — artificial intelligence solutions firm Hanwha Vision and semiconductors equipment maker Hanwha Precision [...]
SEOUL, Mar. 28 (Korea Bizwire) — The number of flights on South Korea’s international routes are likely to nearly reach pre-COVID 19 pandemic levels during this peak summer season, the transport ministry said Thursday. The number of flights on 231 routes between domestic airports and overseas ones is expected to recover to 98 percent, or [...]
SEOUL, Mar. 25 (Korea Bizwire) — South Korea plans to launch its second military satellite in early April, the defense ministry said Monday, under a project to launch five satellites to better monitor North Korea. South Korea launched the first surveillance satellite using SpaceX’s Falcon 9 rocket from a U.S. military base in California last [...]
SEOUL, Mar. 13 (Korea Bizwire) – A senior Iraqi Army general visited South Korea last week to look over a homegrown utility helicopter, sources said Wednesday, raising speculation over the Middle Eastern country’s potential purchase of the aircraft. Lt. Gen. Samir Zaki Hussein Al-Maliki, commander of Iraq’s Army Aviation Command, arrived in South Korea on [...]
SEOUL, Mar. 7 (Korea Bizwire) — The government said Thursday it plans to closely monitor air ticket prices amid concerns of market monopolization from an envisioned merger between Korean Air Co. and Asiana Airlines Inc. The Ministry of Land, Infrastructure and Transport announced the measures centered around the transport and logistics infrastructure for 2024 at [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s first military spy satellite has successfully transmitted “good-resolution” images of central Pyongyang back home following the satellite’s launch in December, military sources said Sunday. The first indigenous South Korean military spy satellite was placed into orbit from Vandenberg Space Force Base in California on Dec. 2, allowing [...]
SEOUL, Feb. 20 (Korea Bizwire) — The auction to sell Asiana Airlines Inc.’s cargo business division is set to begin Tuesday following the European Union’s antitrust regulator’s conditional approval of Korean Air Co.’s planned merger with Asiana, industry sources have said. The European Commission (EC), the executive body of the EU, gave a conditional nod [...]
SEOUL, Feb. 13 (Korea Bizwire) — Korean Air Co. and Asiana Airlines Inc. have now entered the final stretch of sealing their proposed merger after winning approval by the European Union of the consolidation of South Korea’s two full-service carriers. The conclusion as to whether the companies can ultimately merge themselves into a single mega-carrier [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea will launch cloud services using indigenous quantum computers and begin test flights of urban air mobility (UAM) vehicles in Seoul metropolitan areas this year, the finance ministry said Wednesday. They are part of the major projects that the government is pushing to nurture advanced technologies and spur [...]
SEOUL, Feb. 9 (Korea Bizwire) – South Korea has been conducting a U.S.-led multinational air exercise, along with four other nations, in Guam since earlier this month to enhance joint operability, the Air Force said Friday. The annual Cope North exercise has been taking place at the Andersen Air Force Base in Guam since Monday, [...]