SEOUL, Dec. 30 (Korea Bizwire) — Jeju Air Co., South Korea’s largest low-cost carrier, said Thursday it has postponed the signing of a deal to acquire Eastar Jet as it takes more time to conduct due diligence on the smaller budget carrier. Jeju Air was originally set to sign a share purchase agreement with Eastar [...]
SEOUL, Dec. 30 (Korea Bizwire) — Hanjin Group Chairman Cho Won-tae and his mother offered a public apology Monday for what could be seen as a family feud over the control of South Korea’s largest logistics conglomerate. The statement came two days after South Korean media reported Cho’s big argument with his mother at her [...]
SEOUL, Dec. 29 (Korea Bizwire) — Hanjin Group chief Cho Won-tae has clashed with his mother over the group’s management, an industry official said Saturday, in a deepening family feud at South Korea’s largest logistics conglomerate. Cho had a big argument with his mother, Lee Myung-hee, at Lee’s house in Seoul on Christmas over whether [...]
SEOUL, Dec. 27 (Korea Bizwire) – HDC Hyundai Development Co., a midsized construction company, signed a deal on Friday to acquire Asiana Airlines Inc. as the South Korean builder strives to diversify its business portfolio. In their board meetings held early Friday, HDC and Kumho Industrial Co., a construction unit of Kumho Asiana Group, approved [...]
SEOUL, Dec. 26 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics firm, said Thursday it completed the relocation of historical structures in Turkey to prevent them from potentially being submerged by a dam project. The Hasankeyf project, launched in 2017, involved transporting 23 units of ancient structures aged well beyond 500 years [...]
SEOUL, Dec. 23 (Korea Bizwire) — In what could be a signal of a family feud at South Korea’s largest logistics conglomerate, Hanjin Group, the eldest daughter of the group’s late chairman on Monday accused her younger brother of ruining the family business. Cho Hyun-ah, former head of Korean Air Lines Co., claimed her younger [...]
SEOUL, Dec. 23 (Korea Bizwire) — Kumho Asiana Group is set to sign a formal deal with a local consortium this week to sell its flagship airline unit, industry sources said Monday. Kumho Industrial Co., the largest shareholder of Asiana, will sign the deal with a consortium comprised of HDC Hyundai Development Co. and brokerage [...]
SEOUL, Dec. 19 (Korea Bizwire) — Germany-based online delivery service provider Delivery Hero is forecast to take control of South Korea’s food delivery app market following its proposed megadeal to buy the country’s top food delivery app operator, Woowa Brothers Corp., industry data showed Thursday. On Friday, Delivery Hero announced that it will acquire an [...]
SEOUL, Dec. 18 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Wednesday it has signed an initial pact to acquire smaller LCC Eastar Jet, heralding a shake-up in the country’s airline sector. Jeju Air will take over a 51.17-percent stake in Eastar Jet for 69.5 billion won (US$60 million) and sign [...]
SEOUL, Dec. 16 (Korea Bizwire) — Incheon International Airport is famous for its spectacular landscaping, made possible through the efforts of devoted experts at a dedicated plant clinic. Incheon International Airport Corp. (IIAC), the operator of Incheon International Airport, said 1.3 billion won (US$1.1 million) is spent each year for landscaping, which is equivalent to [...]