SEOUL, July 22 (Korea Bizwire) — South Korea’s mid-sized and smaller business groups are increasingly leveraging mergers and acquisitions (M&A) to expand their reach, diversify services, and create synergies between legacy businesses and emerging growth engines — from hospitality and aviation to cosmetics, food tech, and education. Recent deals underscore how cross-sector integration is reshaping [...]
SEOUL, Feb. 21 (Korea Bizwire) — Despite a prolonged economic downturn and high interest rates, several prominent South Korean mid-sized companies are actively pursuing major mergers and acquisitions, highlighting a shift in corporate strategy. The number of completed M&A deals valued at over 10 billion won in South Korea reached 474 in 2024, marking a 12% [...]
SEOUL, Jan. 22 (Korea Bizwire) — Daemyung Sono Group, a leading condominium and resort company in South Korea, said Wednesday it is seeking to acquire management control of low-cost carrier (LCC) T’way Air Co. to improve the airline’s operations and financial health. Sono International, the holding company of Daemyung Sono Group, said it is ramping [...]
SEOUL, Nov. 21 (Korea Bizwire) — The European Union has concluded the passenger service-related remedial commitments offered by South Korean flagship carriers Korean Air Co. and Asiana Airlines Inc. for their proposed merger have been fulfilled, according to the EU’s executive body Thursday. Korean Air has divested four European passenger flight routes to low-cost carrier [...]
SEOUL, Aug. 29 (Korea Bizwire) — The inaugural flight of South Korean low-cost carrier (LCC) T’way Air from Paris to Incheon was canceled due to a technical problem of the aircraft, industry sources said Thursday. Flight TW402, which was scheduled to depart from Paris to Incheon at 8:30 p.m. local time on Wednesday, was canceled [...]
SEOUL, June 21 (Korea Bizwire) – The government on Friday ordered low-cost carrier T’way Air to come up with measures to address repeated safety and flight delay issues. The Ministry of Land Infrastructure and Transport said it has conducted a special inspection of T’way Air and has ordered the airline to implement safety measures by [...]
SEOUL, Jun. 20 (Korea Bizwire) — The European Union’s aviation safety authority will be “ready to react appropriately” against possible flight maintenance issues of the European operation of South Korean low-cost carrier T’way Air, which has recently been plagued by frequent delays due to aircraft maintenance issues, an agency spokesperson said Thursday. T’way Air experienced [...]
SEOUL, Jun. 14 (Korea Bizwire) — Hundreds of international travelers using T’way Air, a South Korean budget air carrier, have experienced flight delays this week due to apparent maintenance issues with its aircraft, according to the company Friday. T’way Air flight TW283, which was scheduled to depart from Incheon International Airport to Osaka at around [...]
SEOUL, July 10 (Korea Bizwire) — T’way Air, a South Korean low-cost carrier, said Monday it will open a Daegu-Mongolia route later this month as travel demand rebounds after three years of COVID-19 pandemic restrictions. T’way Air plans to provide two flights a week on the Daegu-Ulaanbaatar route starting from July 28, the company said [...]
SEOUL, Oct. 17 (Korea Bizwire) — T’way Air, a South Korean low-cost carrier, said Monday it will open an Incheon-Sydney route in December as pent-up travel demand is unleashed amid eased virus curbs. T’way Air will provide four flights a week between Incheon, 27 kilometers west of Seoul, and Sydney starting Dec. 23, the company [...]