Korean Air announced on Thursday it was injecting 1.1 trillion won into its subsidiary company Hanjin International to help pay off its debts and keep the latter’s hotel business afloat. The decision was made during a board of directors meeting on Wednesday, which will help pay back HIC’s debt worth $900 million while $50 million will be used to cover operating expenses for the Wilshire Grand Center in Downtown Los Angeles, a hotel HIC has operated since 2017. The airline said the

In a direct hit against the Transport Ministry‘s move to oust him, Koo Bon-hwan, chief executive officer of the state-run Incheon International Airport Corp., on Wednesday refused to step down for “ungrounded” reasons. “During a meeting with a senior official at the Ministry of Land, Infrastructure and Transport earlier this month, I was asked to resign on my own. I was told a dismissal would be recommended if I don‘t leave immediately,” he said during a pre

Low cost carrier T’way Air will start flying to Wuhan, China once a week from Wednesday, becoming the first airline in the country to travel the route in eight months. The move comes after the Ministry of Transport gave the airline the go-ahead Tuesday night to offer flights between Incheon and Wuhan, one official at T’way Air said, after having obtained approval from China’s civil aviation authorities recently. The Incheon to Wuhan flights are known to be popular among busin

Pernod Ricard Korea unveiled a series of new ads for its Jameson Irish Whiskey on Monday, featuring artists from various fields enjoying a whiskey highball. Each of the three ads features an artist enjoying whiskey in a different setting -- camping, a house party and a pub -- as part of the company’s “Why Jameson Highball?” campaign. The ads are posted on its social media platforms, including Instagram. The participating artists are Jackson Shim, J Black and Adoy. Pernod Ric

Oriental Brewery Company led by CEO Ben Verhaert has extended payment deadlines to help wholesalers and small business owners affected by a recent spike in coronavirus cases in Korea. Earlier this month, the largest beer maker in South Korea, which is owned by AB InBev, announced it has allowed alcohol wholesalers across the country to pay for its products at a later date or pay in installments as part of its efforts to ease the burden on businesses that have been battered by stricter social di

The consumption of jet fuel in South Korea saw a 40.5 percent year-on-year drop during the first quarter this year, according to the latest data from the Korea National Oil Corporation. With most international flights from Korea canceled due to weak travel demand and international travel restrictions amid the coronavirus pandemic, the industry consumed just 11.59 million barrels of oil. Overall oil consumption was down 2.9 percent during the same period, standing at around 443.93 million barre

Air Busan became the first Korean airline on Thursday to fly a no-destination flight with a select group of passengers. The short-haul flight, which took off around noon from Gimhae International Airport, located on the western end of Busan, traveled over multiple areas of the country including Pohang, Seoul, Gwangju and Jeju Island for nearly two hours before returning to Gimhae. Students from the Department of Airlines and Tourism at Uiduk University were among those on board the plane as pa

Philip Morris Korea on Wednesday called on the government to introduce separate regulations for heat-not-burn cigarettes, as it touted the latest authorization by the US Food and Drug Administration of its Iqos brand.　 The FDA decided in July to authorize the marketing of the company’s electronically heated tobacco system as a type of modified risk tobacco product in an industry first. There are two types of MRTP orders the FDA may issue: a “risk modification” order or an &ldq

Korean Air announced Tuesday it will enforce stricter rules for passengers to wear masks on board planes as part of safety efforts to prevent COVID-19. Starting Sept. 8, the national flag carrier will not allow passengers to board if they refuse to wear a mask, in an effort to stop the spread of the virus, with the exception of toddlers younger than 24 months and those with health conditions. The move is part of the airline’s Care First program, which consists of prevention and disinfec

The total value of orders placed on food delivery apps in South Korea reached 1.2 trillion won in August, up 28 percent from July and setting a new monthly record, as the government introduced stricter social distancing regulations after COVID-19 cases rose again, according to data released by WiseApp Tuesday. Around 16 million people used the country‘s four biggest delivery apps -- Baedal Minjok, Yogiyo, Baedaltong and Foodfly -- during the month of August, the data showed. Users of Bae

McDonald’s Korea has received the Prime Minister’s Commendation award for eco-friendly business operation, the company said Monday. The fast food chain received the award for its efforts to reduce the use of plastics and switch to more eco-friendly packaging. In May, the company ditched plastic lids for its ice cream McFlurry and it continues to introduce electric motorcycles for its McDelivery service to reduce greenhouse gas emissions. The award was granted on the 12th anniversa

Over 60 percent of international companies have either shaken up their global value chains or have plans to do so amid growing protectionism around the world, the Korea Trade-Investment Promotion Agency said Sunday. A total of 246 companies in fields such as materials, devices and equipment were analyzed by officials at the state-funded trade organization, who looked at their business decisions over the past five years such as relocation, investments, mergers and acquisitions. Changes to globa

  진행자: 임현수, Kevin Lee Selzer 1. Far-right pastor claims COVID-19 outbreak a fraud 요약: 사랑제일교회 전광훈 목사가 정부의 방역 조치를 '사기'이라고 주장했다. [1] As soon as he had recovered from COVID-19 on Wednesday, Jun Kwang-hoon, who leads the Seoul-based Presbyterian church that has emerged as the country’s second-biggest virus cluster, called the government’s antivirus measures a “fraud” designed to destroy his church. *As soon as: ~하자마자 *Presbyterian: 장로교 *Emerge: 나타나다 *Fraud: 사기 [

Despite months of back-and-forth and attempts at breakthroughs, the acquisition talks between HDC Hyundai Development Company and Asiana Airline are likely to fall apart, according to reports Thursday. In an email Wednesday, the building company once again told Korea Development Bank, the airline’s creditor, to undertake a fresh round of due diligence for 12 weeks, local reports revealed. KDB and the airline’s owner Kumho Industrial have been adamant against another round of due dil

Health and beauty store Olive Young said Thursday it was preparing to apply for an initial public offering in 2022. CEO Koo Chang-gun announced the decision on the company’s in-house communication app “Olive Lounge” on Wednesday where he said work to file for an IPO in 2022 would start next year, with plans to attract pre-IPO investment. “It is to secure assets to support the company’s future growth. But there won’t be any change to majority shareholder CJ

E-commerce firm WeMakePrice said Wednesday that grocery shoppers can now receive a full refund for perishable goods if the products are not up to their standards. The new initiative comes after the online retailer trialed a similar service last month for meat products and nuts, which the company says was met with a warm reception. Dissatisfied shoppers can now order meat, vegetables, fruits and seafood products that are quality assurance approved and request a full refund until the following

DRINK RESPONSIBLY -- Oriental Brewery CEO Ben Verhaert, who also goes by the Korean name Bae Ha-jun, attends an event to launch a campaign against drunk driving at a driver’s test site in southern Seoul, Wednesday.  OB has teamed up with the Road Traffic Authority for the campaign.

Hanwha Group’s skyscraper 63 Square, more commonly known as 63 Building, made a cameo appearance with BTS at the MTV Video Music Awards on Sunday. During the septet’s performance of their new single “Dynamite,” Seoul’s landmarks stood tall in the backdrop alongside a display of fireworks over what appears to be the Han River. “Shining through the city with a little funk and soul,” bandmate Jin belted out the last round of the chorus as the conglomerate

Incheon International Airport Corp. is set to post an annual deficit of over 430 billion ($ 363 million) won this year, according to its latest projection Monday. As things stand in August, the airport is on course to be in the red this year, marking the first time in 17 years since 2003. The projection comes following a sharp drop in the number of flights and revenue during the first half of 2020, which saw its previous projected deficit grow over time since the first quarter. “The pro

Hyundai Engineering & Construction said Sunday that the company will start distribution of its newly built Hill State apartments in the city of Gwangju, Gyeonggi Province, in early September. The new complex consists of seven 20-story buildings with five basement floors and offers a total of 565 units in five different sizes ranging between 63 and 84 square meters. It is the company‘s first Hill State brand launched in the neighborhood in the vicinity of Samdong Station on the Gye