SEOUL, Sept. 11 (Korea Bizwire) — South Korea’s jet fuel consumption tumbled nearly 40 percent in the first half of the year as the coronavirus pandemic caused air travel demand to hit the skids, data showed Friday. Consumption of jet fuel in Asia’s fourth-largest economy came to 11.6 million barrels in the January-June period, down [...]
SEOUL, Sept. 9 (Korea Bizwire) — Korean Air Lines Co. said Wednesday it has begun to use two converted planes to transport cargo on routes to the United States in the latest move to offset a sharp decline in air travel demand amid the coronavirus pandemic. The biggest carrier in South Korea has recently converted [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korean logistics giant CJ Logistics Corp. announced Monday that it will introduce a new system that can efficiently categorize various small-sized parcels. Unlike previous logistic terminals that were run on a single assembly line regardless of the size of the parcel, the new Multi Point (MP) system separates [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korean food delivery applications saw their sales hit a fresh high in August as more people refrained from dining out and stayed home amid the stricter social distancing scheme, data showed Tuesday. The combined transactions made through the country’s four major food delivery applications came to 1.2 trillion [...]
SEOUL, Sept. 8 (Korea Bizwire) — Amid the prolonged COVID-19 pandemic, the number of cases in which foreign airlines have rejected refund requests has more than quadrupled compared to a year ago. The number of cases filed for damage claims against foreign airlines for refund refusals stood at 887 in the January to August period [...]
SEOUL, Sept. 7 (Korea Bizwire) — Embattled Eastar Jet Co. said Monday it will reduce its workforce by more than half as part of efforts to find a new investor after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the coronavirus pandemic. Eastar plans to lay off 605 of its [...]
SEOUL, Aug. 28 (Korea Bizwire) — A recent survey has showed that most of South Korea’s delivery app-affiliated restaurants are feeling a huge burden from the costs that they have to pay to delivery app operators. The Seoul Metropolitan Government, the Incheon Metropolitan Government and the Gyeonggi Provincial Government jointly carried out a survey of [...]
SEOUL, Aug. 25 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Tuesday it has signed a deal to sell its in-flight catering and duty-free business to a local private equity fund, as it strives to secure capital amid the new coronavirus crisis. Korean Air held a board meeting to approve the [...]
SEOUL, Aug. 19 (Korea Bizwire) — Users of the global house-sharing platform Airbnb Inc. spent US$2.1 billion in South Korea in 2019, the company said Wednesday. The amount accounted for 4.2 percent of total tourist spending in Asia’s fourth-largest economy, with Airbnb users’ median expenditures standing at $445. Airbnb users and hosts contributed $1.91 billion [...]
SEOUL, Aug. 18 (Korea Bizwire) — A recent survey has revealed that almost 6 in 10 Korean consumers are taking delivery of food on a regular basis through a food subscription service. According to an online survey conducted by the state-run Korea Agro-Fisheries & Food Trade Corp. of 1,375 local consumers, 57.2 percent of the [...]