SEOUL, May 18 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) said Wednesday it will sell all overseas coal power plants, including one in the Philippines, as part of efforts to improve its financial status over record quarterly losses. Last week, the state-run electricity monopoly reported a record-high operating loss [...]
SEOUL, Jun. 24 (Korea Bizwire) — After years of struggle in the face of a decline in Chinese tourists and increased competition, South Korea’s duty-free operators are in search of a more stable and sustainable business portfolio — to reduce their reliance on Chinese visitors and generate decent profits. The country’s duty-free business has raked [...]
SEOUL, Aug. 27 (Korea Bizwire) — Overseas business expansion by major South Korean hotel chains is being delayed for various reasons, industry sources said Monday. Shilla Stay, the business hotel arm of Shilla Hotel, was due to open a new branch in Danang, Vietnam, early this year, but the launch was pushed back to July [...]