SEOUL, Jul. 8 (Korea Bizwire) — Passenger traffic at South Korean carriers jumped 29 percent to a record 47 million in the first half from a year earlier on higher demand for affordable air travel, government data showed Monday. The number of passengers who traveled via flights offered by 10 local airlines came to 47.56 [...]
SEOUL, Jul. 4 (Korea Bizwire) — Combined investment made by the South Korean aviation industry to ensure safe air travel rose 38 percent on-year in 2023 to reach over 5.8 trillion won (US$4.18 billion), government data showed Thursday. According to the Ministry of Land, Infrastructure and Transport, the combined spending on air travel safety by [...]
SEOUL, July 1 (Korea Bizwire) –Renault Korea Motors Co., the South Korean arm of Renault S.A., reported a notable 23.4% increase in its June sales, driven by a significant rise in exports. The company announced on Monday that it sold 9,002 vehicles last month, a considerable jump from the 7,297 units sold in the same [...]
CHESHIRE, Connecticut, Jul. 1 (Korea Bizwire) — Aerospace Alley is one of the world’s largest and most experienced concentrations of aerospace companies, housing around 130 parts companies and top-tier original equipment manufacturers (OEMs) within an 80-kilometer radius of Hartford, Connecticut. Anchored by internationally renowned companies, like jet engine-maker Pratt & Whitney, this industrial ecosystem supports [...]
CHESHIRE, Connecticut, Jul. 1 (Korea Bizwire) — Hanwha Aerospace Co. said Sunday it aims to generate 2.9 trillion won (US$2.08 billion) in sales from the global aviation engine components business by 2032, with a target to secure capabilities for developing its own engine technologies for fighter jets. “Hanwha Aerospace has been actively promoting its global [...]
SEOUL, Jun. 25 (Korea Bizwire) — Korea Aerospace Industries, Ltd. (KAI) said Tuesday it has signed a 1.96 trillion-won (US$1.41 billion) deal with the state defense procurement agency to start production of the next-generation KF-21 fighter jet. The contract with the Defense Acquisition Program Administration (DAPA) covers a total of 20 KF-21 units, including follow-up [...]
SEOUL, Jun. 25 (Korea Bizwire) – Korea Aerospace Industries Co. (KAI) said Tuesday it has forged an agreement with a Polish defense firm to establish a support system for maintenance and related services for its FA-50 fighter jets exported by KAI. KAI said it signed a teaming agreement with WZL-2, a maintenance, repair and overhaul [...]
SEOUL, June 21 (Korea Bizwire) – The government on Friday ordered low-cost carrier T’way Air to come up with measures to address repeated safety and flight delay issues. The Ministry of Land Infrastructure and Transport said it has conducted a special inspection of T’way Air and has ordered the airline to implement safety measures by [...]
SEOUL, Jun. 20 (Korea Bizwire) — The European Union’s aviation safety authority will be “ready to react appropriately” against possible flight maintenance issues of the European operation of South Korean low-cost carrier T’way Air, which has recently been plagued by frequent delays due to aircraft maintenance issues, an agency spokesperson said Thursday. T’way Air experienced [...]
SEOUL, Jun. 14 (Korea Bizwire) — Hundreds of international travelers using T’way Air, a South Korean budget air carrier, have experienced flight delays this week due to apparent maintenance issues with its aircraft, according to the company Friday. T’way Air flight TW283, which was scheduled to depart from Incheon International Airport to Osaka at around [...]