SEOUL, Sept. 22 (Korea Bizwire) — South Korea’s airlines have drastically reduced their aircraft fleets over the past two years as demand for air travel dried up due to the prolonged COVID-19 pandemic, industry data showed Wednesday. The total number of aircraft operated by the nation’s 10 carriers currently stands at 372, down from 414 [...]
SEOUL, Sept. 1 (Korea Bizwire) — The Incheon International Airport Corp. (IIAC), South Korea’s main airport operator, said Tuesday that it had acquired Airport Health Accreditation from the Airports Council International (ACI) for the second straight year. The ACI Airport Health Accreditation was introduced in July 2020 as a way to systemize global airports’ disinfection [...]
SEOUL, Aug. 30 (Korea Bizwire) — New services are taking care of ‘cumbersome tasks’ on behalf of those who want to stay indoors following the coronavirus outbreak. Fitco introduced a service in November that comes up with various recommendations on fashion, picked by professional stylists based on the ‘Style Quiz’ questionnaire that asks customers some [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s home shopping channel operators are increasingly embracing ‘mini programs’ that have a short broadcasting time of 10 to 40 minutes. Compared to general programs with a broadcasting time of more than 1 hour, mini programs require relatively minimal preparation, thereby enabling a product pitch reflecting the latest [...]
SEOUL, Aug. 20 (Korea Bizwire) — Korean Air Lines Co., South Korea’s largest carrier, will retire its four-engine passenger aircraft within the next 10 years to shift its business model to smaller jets for long-haul flights, company officials said Friday. Korean Air plans to phase out its Airbus A380s within the next five years and [...]
SEOUL, Aug. 18 (Korea Bizwire) — Danggeun Market Inc., the company behind South Korea’s popular online secondhand marketplace, said Wednesday it raised 179 billion won (US$153 million) in additional funding that puts its valuation at roughly 3 trillion won. The Seoul-based startup said it secured new funds from new investors DST Global, Aspex Management and [...]
SEOUL, Aug. 17 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-largest carrier, said Tuesday its second-quarter net profit jumped 22 percent from a year earlier on strong cargo demand amid an extended COVID-19 pandemic. For the three months ended in June, net profit rose to 60.8 billion won (US$52 million) from 50 billion won [...]
SEOUL, Aug. 15 (Korea Bizwire) — Korean Air Lines Co., South Korea’s largest carrier, said Friday its second-quarter net profit dropped 20 percent from a year earlier as travel demand remained weak due to the prolonged COVID-19 pandemic. Its net profit reached 130 billion won (US$111 million) in the April-June period, compared with 162.4 billion [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s 10th budget carrier Air Premia Co. on Wednesday began services on the Gimpo-Jeju route to meet local travel demand amid the extended COVID-19 pandemic. Last month, the Ministry of Land, Infrastructure and Transport issued an air operator certificate to Air Premia to allow the carrier to use [...]
SEOUL, July 22 (Korea Bizwire) — Shilla Duty Free, South Korea’s leading duty-free operator, said Thursday it will make inroads into China through a partnership with a Chinese industry player. Shilla Duty Free said it has signed a memorandum of understanding on a strategic partnership with Hainan Tourism Duty Free City based in the southern [...]