SEOUL, Feb. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest airline and national flag carrier, said Thursday it will sell property and non-core assets to improve its financial status. Korean Air plans to sell its idle property in central Seoul and a non-core business unit to emerge as a financially healthy company [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s low-cost carriers will suspend more flights on Chinese routes to avoid fallout from the fast-spreading new coronavirus, industry sources said Wednesday. Jeju Air Co., the country’s biggest budget carrier, which recently suspended six out of 17 routes to mainland China, will halt another route beginning Friday, a [...]
SEOUL, Feb. 5 (Korea Bizwire) — The spread of the novel coronavirus is likely to take a particularly heavy toll on air carriers among all South Korean industries, analysts said Wednesday, citing the reduction in the number of flights to China. “The new coronavirus will add another blow to the already-downtrodden travel demand,” Eugene Investment [...]
SEOUL, Feb. 5 (Korea Bizwire) — The volume of transactions made through online-to-offline (O2O) services increased last year from the year prior, a recent report showed. O2O refers to services that allow users to order food, call a taxi or rental car, and book accommodations and leisure anytime, anywhere through mobile phone applications. According to [...]
SEOUL, Feb. 4 (Korea Bizwire) — Consumers are resorting to online shopping to purchase everyday goods as the Wuhan coronavirus continues to expand worldwide. Coupang Inc., one of South Korea’s major online shopping portals, announced on Sunday that its Rocket Fresh service, an early morning delivery service for fresh food, could be delayed by a [...]
SEOUL, Feb. 3 (Korea Bizwire) — Major casinos in South Korea have banned the entry of groups of Chinese tourists, in a move to contain the fast-spreading China coronavirus, industry sources said Monday. Paradise, which operates a foreigner-only casino in the country, has not allowed the entry of Chinese tourists since Jan. 27. The company [...]
SEOUL, Jan. 31 (Korea Bizwire) — The heiress of South Korean airline-focused conglomerate Hanjin Group, widely known for the “nut rage” incident in 2014, has joined hands with a local fund and a builder for the group’s management control ahead of a shareholders meeting in March. In a joint statement with local activist fund Korea [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s airlines are reorganizing their flight schedules on Chinese routes in preemptive measures to avoid fallout from the fast-spreading new coronavirus, industry sources said Thursday. Korean Air Lines Co., the country’s national flag carrier, said it will reduce or suspend some of its flights to China from Sunday [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korean airlines are beefing up preventive measures to minimize any fallout from the fast-spreading coronavirus on their businesses this year, industry sources said Wednesday. The new coronavirus virus first appeared in the central Chinese city of Wuhan last month, and has sickened thousands and killed more than 100 [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s tourism industry is expected to take the hardest hit among local businesses here from the outbreak of the Wuhan coronavirus as citizens cancel their overseas trips, while incoming tourists from China are set to decline sharply, industry sources said Tuesday. More than 100 people have been killed [...]