China’s Alibaba Group, the parent company of AliExpress, which has been embroiled in controversy for selling knockoffs and distributing low-quality, unauthorized goods in Korea, is reportedly considering making a 100 billion won equity investment in Korean women’s fashion application Ably, causing a
As the final bid for the sale of Asiana Airlines’ cargo business approaches, attention is turning to the future owner. The acquisition is expected to amount to around 1 trillion won, including debt. Out of the four low-cost carriers (LCCs) that have entered the bidding, three are experiencing capita
CJ Logistics announced on April 18 that it has signed a customs clearance and delivery service agreement with NinjaVan to strengthen its logistics business for consumers in Southeast Asia that buy Korean goods through cross-border shopping.NinjaVan, a logistics company founded in Singapore in 2014,
The National Pension Service (NPS) has come out against the reappointment of Cho Won-tae, president and chairman of Korean Air, as an inside director, sparking interest in the reasons behind the move.According to the aviation industry on March 17, the NPS’s Fund Management Committee is expected to v
Korean Air will build an engine maintenance cluster in the Unbuk district of Yeongjong Island, Incheon, to expand its aircraft engine maintenance capacity and expand its aviation maintenance, repair and overhaul (MRO) business.Korean Air announced on March 14 that it held a groundbreaking ceremony f
CJ Logistics announced on March 13 that it has received the Center of Excellence for Independent Validators Lithium Batteries (CEIV Lithium Batteries) from the International Air Transport Association (IATA). The CEIV Lithium Battery Certification is an international standard certification issued by
SK ecoplant has partnered with the global resort company Therme Group to advance the development of a European-style spa and resort in Songdo.On March 8, SK ecoplant announced the signing of a memorandum of understanding (MOU) with Therme Group for the resort development and construction, as well as
Incheon International Airport Corporation (IIAC) announced on March 5 that it signed a memorandum of understanding (MOU) with Munich Airport to expand educational cooperation at the Munich Airport Education Center in Germany on March 4.About 15 people attended the signing ceremony, including IIAC Pr
Four low-cost carriers (LCCs) -- Jeju Air, Air Premia, Eastar Jet, and Air Incheon -- participated in a preliminary tender for the sale of Asiana Airlines’ cargo business division.The four LCCs submitted letters of intent (LOIs) after UBS, the sale organizer, finished accepting LOIs for the prelimin
The Korean Ministry of Land, Infrastructure, and Transport (MOLIT) is probing T’way Air for using unauthorized airframe parts.MOLIT discovered the use of unauthorized air conditioning and heating parts during a special inspection of T’way Air, according to industry sources on Feb. 27. Korean authori
Korean Air has received conditional approval from European Union (EU) competition authorities for its merger with Asiana Airlines. Therefore, the sale of Asiana’s cargo business, a condition for the merger, is now on the right track.According to investment banking and aviation industry sources on Fe
Incheon International Airport Corporation (IIAC) has secured a contract for the largest overseas airport development and operation project in its history, expected to generate sales of 37 trillion won in the Philippines.On Feb. 16, it was announced that Incheon International Airport Corporation won
Carrot General Insurance announced on Feb. 19 that it has secured a contract for the implementation of Behavior Based Insurance (BBI) solutions with Indonesia’s Lippo General Insurance.This contract acquisition marks the first instance where Carrot’s inherent technological expertise and data capabil
Netflix, a dominant player in the online video streaming service (OTT) industry, is persisting in its non-response to government pressure to lower subscription fees, raising concerns about increasing burdens on domestic OTT companies. Experts argue that to improve equity between domestic and interna
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
ONDA, a South Korean hospitality technology startup, has forged a strategic partnership with Dunqian International, a leading Taiwanese hotel group, to promote tourism in Taiwan.ONDA announced it has signed a Memorandum of Understanding (MOU) with Dunqian International, Taiwan's leading smart hotel
Korean Air has received approval for its merger with Asiana Airlines from Japan’s competition regulator, facing the final hurdle in its quest to become Korea’s megacarrier.The Japan Fair Trade Commission (JFTC), Japan’s competition authority, approved the merger of Korean Air and Asiana on Jan. 31.T
ONDA, a South Korean hospitality technology startup, has formed a significant partnership to provide its booking management solutions to a premier hospitality company in South Korea.ONDA announced it has entered into a technology agreement with Josun Hotels & Resorts to develop the Central Reservati
China’s e-commerce giant AliExpress continues to face ongoing controversies in the domestic market, with persistent debates surrounding the sale of counterfeit products and product quality.According to industry sources on Jan. 23, the Chinese cross-border e-commerce platform AliExpress has recently
Korea Water Resources Corporation (K-water) participated in CES 2024 held in Las Vegas, Nevada, the U.S., from Jan. 9 to 12. It was joined by 19 partner companies, collectively providing opportunities for global market expansion.K-water’s booth attracted numerous global buyers, investors, accelerato