SEOUL, June 17 (Korea Bizwire) — South Korean property developer Sung Jung, the preliminary preferred bidder for Eastar Jet Co., is set to acquire the financially troubled budget carrier, beating a sole bidder in the latest auction, industry sources said Thursday. On Monday, a consortium led by local underwear company Ssangbangwool, Inc. attended the auction [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s major T-commerce (television-based shopping) operators are launching live broadcasting programs to sell their products through TV channels. Among the top three firms — K-shopping, SK Stoa and Shinsegae TV Shopping — the latter two introduced live broadcasting through their TV channels. Featuring a combination of TV home [...]
SEOUL, June 14 (Korea Bizwire) — A consortium led by underwear maker Ssang Bang Wool has submitted a bid to acquire financially troubled budget carrier Eastar Jet Co. to compete with a local construction company that was previously selected as a preferred bidder, industry sources said Monday. Kanglim, a local equipment maker under Ssang Bang [...]
SEOUL, June 13 (Korea Bizwire) — Budget carrier Eastar Jet Co. may pick a preferred bidder next week after reviewing plans from several investors to take over the financially troubled company, industry sources said Sunday. Easter Jet, currently under a court-led rehabilitation scheme, has received letters of intent from several companies, including a consortium led [...]
SEOUL, June 8 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest budget carrier by sales, said Tuesday it has resumed flights to Saipan in a preemptive measure to absorb post-coronavirus travel demand. Jeju Air started to provide one flight a week on the Incheon-Saipan route on the day following permission from the transport ministry, [...]
SEOUL, June 2 (Korea Bizwire) — Hyundai Glovis, a logistics unit of Hyundai Motor Group, said Wednesday it will strengthen electric vehicle-carrying services due to growing market demand for EV models. Hyundai Glovis aims to win more EV-carrying deals this year to prop up its bottom line after shipping about 180,000 EVs, or 40 percent [...]
SEOUL, May 27 (Korea Bizwire) — The house cleaning service market is emerging as a new blue ocean thanks to the spread of the work-from-home trend. The demand for house cleaning, which originally targeted double income couples, is growing at an explosive rate even from single-person households and full-time homemakers. The size of the nation’s [...]
SEOUL, May 19 (Korea Bizwire) — South Korea’s six major travel agencies cut some 15 percent of their workforce over the past year as travel demand has taken a massive hit from the COVID-19 pandemic, data showed Wednesday. At the end of March, six listed travel firms had a total of 4,268 employees, down 15.4 [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s low-cost carriers suffered an extended loss in the first quarter as the coronavirus continued to weigh on travel demand, data showed Tuesday, raising concerns over their ability to stay afloat even after the pandemic. Budget carriers have grounded most of their flights on international routes since early [...]
SEOUL, May 18 (Korea Bizwire) — State-run utility Korea Electric Power Corp. (KEPCO) has teamed up with Kakao Mobility Corp., the country’s top taxi-hailing company, to provide a new electric vehicle (EV) charging service. The two parties recently signed a memorandum of understanding (MOU) to promote cooperation for the service development needed for the establishment [...]