Korean Air Lines Co., South Korea's biggest carrier, is considering stock offerings worth up to 1 trillion won ($820 million) as part of self-help measures amid the growing coronavirus impact on the airline sector, financial sources said Monday. Korean Air is in talks with major securities companies to raise up to 1 trillion won by selling new shares, an investment bank official familiar with the matter told Yonhap News Agency. "Stock offerings are one of various options the company is c

Asiana Airlines Inc., the country's second-biggest carrier, on Sunday announced self-rescue plans, such as extending unpaid leave for employees, to minimize the fallout from the coronavirus pandemic. Under the measure, all employees will be advised to take at least 15 days of unpaid leave each month until business circumstances normalize, the company said in a press release. The company also plans to ask flight attendants and domestic airport employees to apply for two-month paid leaves. To

As continued losses in the second quarter are expected for the aviation industry over COVID-19 pandemic, the South Korean government is expected to roll out an upgraded support measure for cash-strapped air carriers this week, according to the government sources on Sunday.  According to the government, the fifth round of emergency economic council meetings presided over by President Moon Jae-in is set to take place this week.  President Moon has been reiterating the need to support

As oil prices continue to fall, airlines will not impose fuel surcharges on international and domestic airline tickets issued in May, according to the industry Friday. Fuel surcharges are imposed in steps when the average value per gallon (3.785 liters) of Singapore’s jet fuel is 150 cents and over. From March 16 to Wednesday -- the period that determines fuel surcharges for international routes for May -- the average price of Singapore’s jet fuel was $27.60 per barrel and 65.72 c

South Korean air carriers have resumed their domestic operations for the spring travel season, according to industry sources Thursday.  While resumption of international flights is uncertain over prolonging concerns of the COVID-19 pandemic, local air carriers are planning to reopen flight services to popular tourism destinations across the nation, such as Jeju Island. According to budget airline Jeju Air, it has newly launched Gimpo-Yeosu and Yeosu-Jeju routes on Thursday. The routes wi

Korean Air has suspended its in-flight beverage service for passengers on domestic flights, according to industry sources Thursday.  Free beverages -- including water, soda, coffee and tea -- have been suspended as the Transport Ministry recently requested airlines to minimize the number of passengers taking off their face masks in flights, in order to minimize the risk of COVID-19 infection. Korean Air said it will not provide beverages on domestic routes. Another full-service carrier

Hyundai Motor Co. and three other companies are recalling about 45,000 vehicles to fix faulty components, the transport ministry said Wednesday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems in components of vehicles they sell here. Hyundai Motor, Kia Motors Corp., the Korean units of Mercedes-Benz and Toyota Motor are recalling a total of 44,967 vehicles, the Ministry of Land, Infrastructure and Transport said in a statement. The potential

Renault Samsung Motors and GM Korea have concluded wage deals with unionized workers -- a positive sign for the struggling automotive industry amid the COVID-19 outbreak -- but there are still hurdles, considering the ongoing global economic downturn and unstable management-labor union ties, industry sources said Wednesday.  According to Renault Samsung, 70.2 percent of the unionized workers voted to accept a wage freeze and cash bonuses of 8.88 million won ($7,320) per person for 2019. T

Unionized workers at Renault Samsung Motors Corp. voted Wednesday to accept an agreement with the company over wages for last year as the automobile industry is struggling to cope with the impact of the coronavirus outbreak. The company said 70 percent of the 1,700-member union voted to accept a wage freeze and cash bonuses of 8.88 million won ($7,320) per person for 2019.  The wage deal represents a consensus between the company and the union to make joint efforts to weather the impact

Tire manufacturers suspend factory operations as vehicle exports plummet

Renault Samsung said Tuesday that it has added a connected function to customer membership mobile applications My Renault Samsung and My Renault to expand its “untact” service -- without face-to-face contact.  The apps allow customers to check information on the car, review membership benefits, reserve maintenance or after service online and conduct one-on-one chat on customer service.  The new connected functions enable remote control of the vehicle and search of c

Hyundai Motor’s luxury brand Genesis launched a revamped third-generation G80 on March 30, seven years after the previous version was launched in 2013.  After releasing G70 in 2017 and the brand’s first sport utility vehicle GV80 earlier this year, Genesis has been diversifying its vehicle lineup to attract a wider range of customers.  As the flagship model, the latest G80 represents and cements Genesis’ brand identity. The Korea Herald had an opportunity to test

Korean Air Lines Co. suspended flights on the Incheon-Washington route Monday due to the impact of the coronavirus. South Korea's national flag carrier did not provide a time frame when it will lift the temporary suspension. The move came amid the rising coronavirus death toll and infections in the United States. The COVID-19 pandemic has killed more than 22,100 people in the US, including 50 in Washington, DC. Currently, Korean Air flies from Incheon to only five US cities -- Los Angeles, N

Kia Motors Corp., South Korea's second-biggest carmaker, is considering temporarily suspending some of its plants in the country later this month due to the fallout from the novel coronavirus pandemic, industry sources said Sunday. It is planning to halt operations of three factories -- two in Gwangmyeong, south of Seoul, and one in Gwangju, 330 kilometers south of Seoul -- from April 23-29, according to the sources. The company runs nine domestic manufacturing facilities, including one as a j

SsangYong Motor will receive 40 billion won ($32 million) in special funds this month from its major shareholder, Indian carmaking conglomerate Mahindra & Mahindra, to urgently address liquidity issues, the Korean automaker said Sunday. SsangYong said it finalized its plan to raise 40 billion won in new funds at an extraordinary general meeting Friday. Mahindra will first invest in SsangYong as a loan, which will be converted to equity later upon Indian and Korean government agencies&rs