Eight low-cost carriers in the Asia-Pacific region including Korea‘s Jeju Air formed a new alliance to expand their route networks Monday, but the group excludes some major players.According to a statement, Value Alliance is the largest budget carrier alliance in the world, including Jeju Air, Cebu Pacific Air (Philippines), Nok Airlines (Thailand), Scoot (Singapore), Tiger Airways Singapore, Tiger Airways Australia and Vanilla Air (Japan). Chief executives from the eight airlines of the Value A

Industry May 17, 2016

Lotte founder Shin Kyuk-ho, 95, was admitted to Seoul National University Hospital on Monday for a mental competency evaluation, the results of which will play a pivotal role in his sons’ battle over control of the Lotte corporate empire.The evaluation is a part of the ongoing suit brought by Shin’s younger sister Shin Jung-sook last December, which claimed that Shin Kyuk-ho’s deteriorating mental state required him to have a legal guardian. Lotte founder Shin Kyuk-ho heads to Seoul National Uni

Industry May 16, 2016

Korean Air and Asiana Airlines will be operating planes bearing the “Visit Korea Year” emblem as part of the Visit Korea Committee’s efforts to attract tourists. Korean Air will be operating B777-300ER and B747-8i planes with the logo, while Asiana Airlines will be operating A321, A330, and B777 planes with the mark through to 2018. (Korean Air, Asiana Airlines)

Industry May 16, 2016

INCHEON -- Incheon International Airport saw a significant increase in international passengers from January to April this year compared to the same period in 2015, but fewer transfer flyers, the airport said Thursday.In the first four months of 2016 over 18.2 million passengers flew internationally through Incheon International Airport, up from 16.5 million last year.  Incheon International Airport (Yonhap)Despite the increased number of flights and flyers, the number of transfer passengers dro

Industry May 12, 2016

University students take part in Diageo Korea’s “Cool Drinker Campus Campaign” at Konkuk University in Seoul on Wednesday. The responsible drinking campaign will take place on 20 campuses throughout the university festival season to encourage students to develop responsible drinking habits. The campaign has been held every year since 2007. (Diageo)

Industry May 11, 2016

Tobacco leaf farmers in Korea are railing against the introduction of foreign cigarette brands into stores on military bases, raising concerns that their entry would curb the sales of Korean-grown tobacco leaves.Last month, the Defense Ministry announced that two foreign cigarette brands would be sold on military bases here for the first time, breaking KT&G’s monopoly in the military market. The chosen brands were Marlboro Gold Original and Mevius LSS Wind Blue.The growers’ concern is that growi

Industry May 11, 2016

Transport Minister Kang Ho-in speaks at the opening ceremony for the ICAO Aviation Training and TRAINAIR PLUS Global Symposium and fifth Conference on International Air Transport Cooperation. The international conference takes place from Wednesday to Friday at the Conrad Hotel in Seoul. (Transport Ministry)

Industry May 11, 2016

Kumho Petrochemical Co. has taken issue with Asiana Airlines’ recent sale of its stake in Kumho Terminal to Kumho & Company by requesting related documents on Monday.Industry watchers see the move as an attack on Park Sam-koo, chairman of Asiana Airlines’ parent company Kumho Asiana Group, by his brother Park Chan-koo, who heads Kumho Petrochemical. Kumho Petrochemical chairman Park Chan-koo (left) and Park Sam-koo, chairman of Asiana Airlines’ parent company Kumho Asiana Group (Yonhap)As the se

Industry May 10, 2016

Increasing concerns about air pollution and its impact on the human body have led to a sharp increase in consumer demand for oxygen and air purification products, data showed Monday.According to data released by online open market Gmarket, sales of air-related products have risen by nearly 2.5 times since three years ago. (123RF)Products that showed particularly notable growth were canned oxygen, whose sales rose by 76 percent over three years, and oxygen concentrators, whose sales increased fiv

Industry May 9, 2016

McDonald’s releases Reese’s McFlurryMcDonald’s has added a limited-edition Reese’s McFlurry to its menu.The ice cream dessert is a collaboration between the fast-food chain and Reese’s, a brand under the Hershey Co.Reese’s trademark peanut butter and milk chocolate flavor combines with vanilla ice cream in the McFlurry, McDonald’s said.Priced at 2,700 won ($2.30), the Reese’s McFlurry will be sold at McDonald’s until June 23.GGIO2 offers up Zero Gravity Air JacketIn preparation for the summer he

Industry May 5, 2016

Asiana Airlines, the nation’s second-largest air carrier, has reached a $3.45 million settlement with San Francisco’s Board of Supervisors for damages caused during a crash in 2013 that killed three and injured nearly 200 others, according to reports on Wednesday.According to the agreement, which was approved unanimously by the city council members, $1.6 million from the settlement will go toward airport damages while $1.2 million will be used for the city’s legal fees. Asiana Airlines will also

Industry May 4, 2016

Hanjin Group chairman Cho Yang-ho has stepped down as the president of the PyeongChang Winter Olympics’ Organizing Committee, to save his debt-ridden shipping unit, the group said Tuesday.“Chairman Cho has offered to resign from the (PyeongChang) post to resolve pending issues within the group including Hanjin Shipping,” Hanjin Group said in a statement. Hanjin’s shipping unit applied for restructuring by creditors last week after Cho gave up management rights to the company.  Hanjin Group chair

Industry May 3, 2016

The number of domestic and international flight passengers in Korea reached over 24 million in the first quarter this year, continuing a steady increases since 2013, data showed Tuesday.According to the Transport Ministry, international and domestic flyers grew by 13.2 percent and 10.4 percent, respectively. Korea saw 17.6 million international passengers in the first quarter. Incheon Interntional Airport (Yonhap)The ministry attributed this growth to the growth of low-cost carriers and fuel sur

Industry May 3, 2016

Discount retail giant E-mart’s electronics store Electro Mart is set to open its first stand-alone outlet, according to the company Monday.Electro Mart’s fourth store in Pangyo is located on the first floor of Alpharium Tower in Pangyo Techno Valley in Seongnam, Gyeonggi Province. It is E-mart’s first specialized store outside of existing E-mart and Shinsegae branches, and will open Tuesday. The new Electro Mart in Pangyo (E-mart)Designed to be an experience-focused store, the branch includes va

Industry May 2, 2016

A mosquito that is known to be capable of carrying the Zika virus has been found in Korea for the first time this year, the Centers for Disease Control and Prevention said Friday.The Aedes albopictus mosquito, also known as the Asian tiger mosquito, was spotted in three of the 39 inspection sites monitored by the CDC since March. While Aedes aegypti is the species most commonly associated with Zika, Aedes albopictus has also been linked to outbreaks.(Yonhap)The three areas include Seogwipo on Je

Technology April 29, 2016