SEOUL, Oct. 24 (Korea Bizwire) — Unionized workers of Asiana Airlines Inc. on Tuesday protested the company’s merger deal with its larger rival Korean Air Co., as the company is expected to soon decide whether to sell its cargo division to win antitrust approval from European Union (EU) regulators for the two carriers’ merger. At [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Monday it has signed a joint venture deal with Saudi Arabia’s Public Investment Fund (PIF) to build a car assembly plant in the Middle Eastern country. Under the deal signed Sunday in Riyadh, the two sides will jointly invest over US$500 [...]
SEOUL, Oct. 23 (Korea Bizwire) – The Asiana Airlines board meeting scheduled for October 30 is poised to become a pivotal event in the merger between Korean Air and Asiana Airlines. If the proposal to sell Asiana Airlines’ cargo business in compliance with the European Union’s (EU) request is rejected, the merger between the two airlines, [...]
SEOUL, Oct. 22 (Korea Bizwire) – Major global defense companies gathered at an international biennial defense trade show in South Korea set to close Sunday to display advanced military hardware and reaffirm their commitment to the local market. The Seoul International Aerospace and Defense Exhibition (ADEX) at Seoul Air Base in Seongnam, just south of [...]
SEOUL, Oct. 20 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-largest air carrier, plans to decide on whether to sell its cargo business later this month, as Korean Air seeks to win antitrust approval from European Union (EU) regulators for its takeover of the rival, industry sources said Friday. Asiana is set to hold [...]
SEOUL, Oct. 20 (Korea Bizwire) — Hyundai Motor Group on Friday unveiled a goal to sell over 550,000 vehicles annually in the Middle East by 2030, with the aim of acquiring a 20 percent share of the regional market. The group said in its newly announced mid- to long-term business vision for the Middle East [...]
DAEGU & SEOUL, Oct. 19 (Korea Bizwire) – The Daegu International Future Auto and Mobility Expo 2023 commenced on October 19 at the Daegu Exco, offering a three-day showcase of current and forthcoming mobility technologies. The event spotlights innovations in electric vehicles, autonomous driving, and urban air traffic (UAM). Prominent global brands like Hyundai Kia [...]
SEOUL, Oct. 19 (Korea Bizwire) — The number of international travelers on South Korean air carriers during the third quarter reached 85 percent of the level before the COVID-19 pandemic, according to government data Thursday. According to the transportation ministry data, international passengers on South Korean airlines during the July-September period totaled 12.87 million, compared [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co. said Thursday it plans to launch a program to sell refurbished used cars produced by the company and its luxury brand Genesis, with a goal to sell 5,000 certified secondhand models within the year. Hyundai said it will begin sales of used models next Tuesday under [...]
SEOUL, Oct. 18 (Korea Bizwire) – South Korea’s leading carmakers Hyundai Motor Co. and Kia Corp. said Wednesday they have inked a strategic partnership with the German automotive chipmaker Infineon Technologies AG, so as to secure its power semiconductor supply chain. Under the deal, sealed Tuesday in Munich, Germany, the companies will cooperate in developing [...]