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Sat, July 2, 2022 | 08:47

Korean Air, Asiana resume Gimpo-Haneda route after 2-year suspension

Korean Air and Asiana Airlines, the country's two biggest carriers, resumed flights from Gimpo to Haneda, Wednesday, after they were suspended for two years due to the COVID-19 pandemic.

2022-06-29 10:04

GS Inima on track for 2.4 trillion won seawater desalination project in Oman

GS Inima has kicked off a 2.4 trillion won ($1.9 billion) seawater desalination project in Oman, the water treatment firm's parent company GS E&C said Tuesday. GS E&C said it signed contracts to raise a combined $130 million for the Barka 5 independent water plant (IWP) project, ordered by Oman Power & Water Procurement Company.

2022-06-29 08:40

Coupang's paid membership reaches 10 million subscribers

Coupang, the country's largest e-commerce firm, has been widening its lead over Naver, Shinsegae and other competitors on the back of its speedy delivery system and broader range of consumer goods on offer, according to industry officials, Tuesday.

2022-06-28 16:51

OB recognized at Superior Taste Awards 2022

The country's largest brewery firm Oriental Brewery (OB) received acknowledgement for five of its beer products - Cass Fresh, Cass Light, Cass 0.0, Hanmac and OB Lager - at the Superior Taste Awards held by the International Taste Institute (ITI).

2022-06-28 16:51

McDonald's, Burger King, KFC face bleak prospects of selling Korean units

The Korean units of McDonald's, Burger King and KFC are facing growing skepticism over their recent attempts to find new owners for their franchises here, due to deteriorating conditions of both the fast food and financial markets. Citing increased difficulties in fundraising and a growing preference among domestic consumers for healthier foods, industry experts anticipated t...

2022-06-28 16:23

Young chief drastically transforms LG over 4 years

LG Group Chairman Koo Kwang-mo has drastically transformed Korea's fourth-largest business group into a conglomerate focusing on future growth engines by dropping unprofitable businesses, according to industry watchers, Tuesday. Koo will mark his fourth anniversary Wednesday since he took over management of LG Group in June 29, 2018. Under Koo's leadership, LG has withdrawn f...

2022-06-28 15:27

SsangYong Motor picks KG consortium as final bidder

SsangYong Motor said Tuesday it awaits a court's approval for its decision to select a local consortium led by chemical-to-steel firm KG Group as the final bidder for the debt-laden carmaker.

2022-06-28 14:58

Oil refiners struggle to avoid tax on windfall gains

SK Innovation, S-Oil, GS Caltex and Hyundai Oilbank appear to be more obedient to government policies amid growing calls from politicians to impose a tax on the windfall profits of the nation's four oil refiners, according to industry officials, Tuesday. A “windfall tax” refers to a higher tax rate on profits generated from a sudden windfall gain to a particular company or in...

2022-06-28 14:39

Korean Air to restore flights to half of pre-pandemic level by Sept.

Korean Air, the country's national flag carrier, said Tuesday it will restore its international flights to half that of pre-pandemic levels by September as pent-up travel demand is unleashed amid eased virus curbs.

2022-06-28 11:25

Kepco raises electricity bills on oil, gas prices hike

Korea Electric Power Corp. (Kepco) will increase electricity rates for the July-September period, as the company has been approved to raise the fees by a maximum 5 won ($0.0039) per kilowatt-hour (kWh) due to the surge of global oil and liquefied natural gas (LNG) prices, the state-run company said Monday.

2022-06-27 17:15

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