Korea Inc. rushes to cut debt as interest rates surge

South Korean companies scrambled for lowering debts and borrowing costs with new financial and business strategies as interest rates on corporate lo...

LX Pantos mulls Air Premia acquisition to facilitate global logistics service

LX Pantos Co., the logistics unit of South Korea’s LX Group, is looking to acquire a controlling stake in local budget carrier Air Premia Co.,...

Korean Air, its white knight Naver close ranks in digital partnership

South Korea’s national flag carrier Korean Air Lines Co. and online platform giant Naver Corp. are expanding their business cooperation in dig...

Hyundai’s Supernal showcases flying electric car at UK air show

Supernal LLC, the urban air mobility affiliate of South Korea’s top automaker Hyundai Motor Co., has unveiled the cabin concept of its flying ...

South Korean startups team up with convenience stores for drone delivery

South Korean convenient stores are ramping up competition in the business of drone delivery. The initial target regions include the Seoul subur...

Hyundai's IONIQ 6 wins accolades for streamlined design

Hyundai Motor Co.’s first all-electric sedan IONIQ 6 has received accolades from foreign media for its streamlined design and low chassis, whi...

KT, Swift Navigation team up for ultra-precision location service

KT Corp., a major South Korean telecommunications company, has partnered with Swift Navigation Co., a San Francisco-based technology firm, to commer...

Korean Air gears up to normalize international flights

Korean Air Lines Co., the country’s top carrier, is set to take measures to normalize international flights as nations worldwide are opening u...

Axiom Space invites Koreans to $500 million space hotel fundraising

Axiom Space Inc., which is developing the world’s first commercial space station, is seeking to raise $500 million from South Korean investors...

Korea airlines’ race for Mongolian route intensifies

South Korean airlines’ competition for the Mongolian route, one of the most profitable, is heating up as low-cost carriers have joined the rac...

Hanwha invests $115 mn in urban air mobility firm Overair

South Korea’s Hanwha Systems Co. and Hanwha Aerospace Co. have invested a combined $115 million in Series B funding for Overair Inc., a Califo...

SK Gas, Lotte Chemical to launch JV for hydrogen power generation

SK Gas Co., a South Korean major liquefied petroleum gas (LPG) provider, and Korean chemicals firm Lotte Chemical Corp. are slated to set up a joint...

Why Samsung didn't join race for S.Korea's air taxi project

Samsung, a name seen everywhere in South Korea from apartment complexes to home appliances, is missing on the list of bidders for the country’...

Korean Air vows to get nod from all antitrust bodies for Asiana merger

Korean Air Lines Co., which is putting the final touches on its acquisition of crosstown rival Asiana Airlines Inc., said on Monday it expects to ob...

Naver Webtoon to form JV with Japan’s TBS for original IP

Naver Webtoon Corp., the digital comics and novel platform of South Korea’s online portal giant Naver Corp., has agreed to set up a joint vent...

S.Korea to launch $1.3 bn air taxi research project

The South Korean government will launch a 1.6 trillion won ($1.3 billion) project to set basic standards for urban air mobility (UAM), or air taxi, ...

LG’s telecommunication unit joins UAM race in Korea

LG Group’s telecommunication unit joined the race for South Korea’s urban air mobility (UAM) to secure a future growth engine in coopera...

Korea’s major airlines continue to enjoy cargo boom

Korean Air Lines Co., the country’s top carrier, reported a record quarterly operating profit on the strong cargo business while its smaller d...

Asiana steps up pressure on Gategroup to cancel 30-yr contract

South Korea's Asiana Airlines Inc. has stepped up its pressure on Gategroup to nullify its 30-year in-flight meal contract with the Swiss catering s...

Hyundai opens world's first UAM takeoff, landing area in UK

South Korea's Hyundai Motor Group has opened the world's first urban air mobility (UAM) takeoff and landing area in central England.Supernal LLC, Hy...

Korean Air-Asiana deal girds for tough US challenge

The merger between South Korea's two largest air carriers – Korean Air Lines Co. Asiana Airlines Inc. – may face a tough challenge in th...

SK Telecom’s bet on air mobility, metaverse in full display at World IT Show

SK Telecom Co. is poised to show off its latest services at this year’s World IT Show slated for three days from April 20. At the large...

Hilton Seoul to transform into UAM landing area

South Korea's Hyundai Engineering & Construction Co. (Hyundai E&C) plans to build the country's first landing area for urban air mobility (U...

Korean Air’s stock lags US peers' on slow demand recovery

Korean Air Lines Co.’s stock is underperforming those of its US rivals on concerns that South Korea’s top carrier is unlikely to immedia...

Hahn & Co. buys Korean food startup in bolt-on deal

Seoul-based private equity firm Hahn & Co. has acquired a South Korean meal kit provider for 75 billion won ($61 million), a deal expected to bo...

Russia-Ukraine war disrupts Korean exports to Europe

Suspended land, air and sea routes to and from Russia are putting South Korean exporters – from Samsung Electronics Co. and Hyundai Motor Co. ...

S.Korea to support firms to offset damage of Ukraine crisis

South Korea is set to provide financial support of up to $1.7 billion to exporters in a move to minimize the impact of the escalating crisis in Ukra...

Korea approves Korean Air-Asiana merger; hurdles remain

The proposed merger of Korean Air Lines Co. and Asiana Airlines Inc. has moved one step closer to completion with approval by South Korea’s an...

Asiana Airlines swings to profit in 2021 on cargo boom

South Korea's Asiana Airlines Inc. turned to the black in 2021, reporting its largest-ever operating profit since 2010, as global supply chain disru...

Korean Air to deploy Boeing 737 Max aircraft from March

Korean Air Lines Co. will start flying Boeing 737-8 aircraft from March, nearly two years after the global grounding of the jet type by airlines in ...