SEOUL, Jan. 2 (Korea Bizwire) — The chief of Korean Air Co., South Korea’s largest air carrier, on Tuesday vowed to complete the airline’s proposed acquisition of domestic rival Asiana Airlines in 2024. In a New Year’s message to employees, Korean Air Chairman and CEO Cho Won-tae said the company “will complete the acquisition of [...]
SEOUL, Dec. 26 (Korea Bizwire) – South Korea on Tuesday launched a research project to develop a fighter jet engine by the mid-to-late 2030s as part of efforts to acquire key homegrown defense technologies. Earlier this year, the country designated advanced aircraft engines among 30 strategic defense technologies it will invest in as part of [...]
SEOUL, Dec. 13 (Korea Bizwire) – Asiana Airlines, one of South Korea’s major air carriers, has announced a temporary program to measure the body weight of passengers on its domestic flights. This initiative, running from December 12 to 21, is part of a standard weight measurement protocol mandated by the Ministry of Land, Infrastructure and Transport. [...]
SEOUL, Dec. 6 (Korea Bizwire) — The antitrust regulator of the European Union announced Wednesday it plans to make a provisional decision on whether to approve a merger deal between Korean Air Co. and Asiana Airlines by mid-February. The European Commission (EC), the executive body of the EU, set its provisional deadline for the review by Feb. 14, according to its official [...]
SEOUL, Dec. 4 (Korea Bizwire) –South Korea’s defense authorities on Monday chose Brazilian company Embraer’s C-390 for the Air Force’s new large transport aircraft over contenders from aerospace heavyweights Lockheed Martin and Airbus. The Defense Project Promotion Committee selected the model for the 710 billion won (US$544.4 million) acquisition project set to run through [...]
SEOUL, Dec. 2 (Korea Bizwire) – North Korea lashed out at the United States on Saturday after a U.S. space official hinted at possible disabling of the North’s military spy satellite launched last week, saying that it will take it as “a declaration of war” against the regime. A spokesperson of the North’s defense ministry [...]
SEOUL, Dec. 2 (Korea Bizwire) — Space has emerged as an extended battlefield for the rival Koreas as they have successfully launched their own spy satellites into orbit and are gearing up to send more to better monitor each other amid an intensifying arms race, analysts said Saturday. South Korea’s first homegrown spy satellite was [...]
SEOUL, Nov. 30 (Korea Bizwire) – The South Korean government said Thursday it will begin a public tendering process to select a company to lead the country’s space project worth 2.01 trillion won (US$1.6 billion) to develop a next-generation space vehicle. Under the project, South Korea aims to develop a vehicle with enhanced transportation capacity [...]
SEOUL, Nov. 29 (Korea Bizwire) — KT SAT Co., the satellite service arm of local telecom giant KT Corp., said Wednesday it plans to introduce Starlink, satellite internet service developed by U.S. space firm SpaceX, in South Korea. The service will be first adopted for the mobility industry, in particular, marine communications, where a stable [...]
SEOUL, Nov. 14 (Korea Bizwire) – European aerospace giant Airbus SE said Tuesday it has been “actively” engaged with the South Korean government to set up a research and development (R&D) center in the country as it seeks to enhance partnerships with local companies. Airbus has said it aims to be a partner of choice [...]