SEOUL, May 18 (Korea Bizwire) — Korean Air Lines Co. took the extraordinary measure of deploying medium-haul planes on long-haul eastern North American routes starting earlier this month to cope with the recent surge in cargo transport volume. The South Korea’s flagship carrier started operating A330 passenger aircraft as cargo dedicated planes on routes to [...]
SEOUL, May 17 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline, said Monday its net losses narrowed in the first quarter from a year earlier as increased cargo sales helped offset a slump in passenger travel. Net losses stood at 230.4 billion won (US$202.9 million) in the January-March period, compared with a loss [...]
SEOUL, April 22 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest budget carrier by sales, said Thursday it will resume flights to Saipan late next month in a preemptive measure to absorb post-coronavirus travel demand. Jeju Air plans to reopen the Incheon-Saipan route on May 28 upon permission from the Ministry of Land, Infrastructure [...]
SEOUL, April 19 (Korea Bizwire) — Kakao Corp., once embroiled in a long-standing dispute with the taxi industry due to its ride-sharing service, is once again facing similar criticism. Kakao Mobility Corp., the mobility business unit of Kakao, released a new 99,000 won (US$88.50) monthly subscription plan for taxi drivers last month that offers benefits [...]
SEOUL, April 15 (Korea Bizwire) — Aero K Airlines Co. on Thursday began regular flights with an A320ceo aircraft as South Korea’s eighth low-cost carrier. Aero K began services on a domestic route between Cheongju, 140 kilometers south of Seoul, and Jeju Island, with a plan to expand flights to Asian countries such as China, [...]
SEOUL, April 14 (Korea Bizwire) — U.S.-based coworking space provider WeWork expects double-digit growth in South Korea this year on strong demand from corporate customers despite the COVID-19 pandemic, the chief of its South Korean unit has said. WeWork Korea posted 20 percent on-year growth in sales last year, helped by restructuring and growing demand [...]
SEOUL, April 11 (Korea Bizwire) — South Korea’s flagship carrier Korean Air Lines Co. is expected to have turned a profit in the first quarter of 2021, data showed Sunday, as the company expanded its logistics business after the new coronavirus pandemic virtually suspended passenger travel. The country’s top airline operator is expected to post [...]
SEOUL, April 9 (Korea Bizwire) — T Map Mobility Co., a mobility unit under telecom operator SK Telecom Co., said Friday it will issue new shares to raise 400 billion won (US$357.3 million) as it seeks to compete with larger rival Kakao Mobility Corp. The taxi-hailing app operator will issue 4.57 million new common shares [...]
SEOUL, April 6 (Korea Bizwire) — Financially troubled Eastar Jet aims to select a new investor by early May as several investors have shown an interest in the budget carrier, the company’s chief executive officer said Tuesday. Eastar will decide whether to proceed with the investor selection process in the form of a “stalking-horse” bid [...]
SEOUL, April 1 (Korea Bizwire) — U.S. tech giant Google will invest more than 50 billion won (US$44.15 million) in Kakao Mobility Corp., the country’s top taxi-hailing company, parent Kakao Corp. said Thursday. Google will invest in Kakao Mobility by acquiring new shares worth 56.51 billion won, according to a regulatory filing from Kakao. The [...]