Seoul, July 13 (IANS) Seoul shares extended losses late on Monday morning, led by falls in chipmakers, bucking gains on Wall Street, as renewed tensions in the Middle East weighed on investor sentiment.After opening 0.85 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 392.53 points, or 5.25 percent, to 7,083.41 as of 11:20 am, reports Yonhap news agency.The decline came as the United States and Iran exchanged fresh strikes over the status of the St…
Latest Korean Air News & Updates
Seoul, June 1 (IANS) South Korea’s aviation sector output fell at the sharpest pace in 52 months in April, mainly due to a spike in fuel surcharges stemming from the prolonged Middle East conflict, government data showed on Monday.The production index for the aviation sector stood at 468.5 in April, down 13.5 percent from a month earlier, according to data released by the Ministry of Data and Statistics.It marked the largest on-month decline since December 2021, when the index dropped 14.2 perce…
Seoul, May 3 (IANS) Almost 900 Air Force pilots have left the armed forces for better-paying jobs with civilian airlines over the past decade, data showed on Sunday.According to a report submitted by the Air Force to People Power Party Rep. Kang Dae-sik, a member of the parliamentary subcommittee on national defense, 896 “skilled” Air Force pilots opted for voluntary discharge from 2017 to March 2026.The Air Force defines skilled pilots as those with between eight and 17 years of experience and …
Seoul, April 16 (IANS) South Korean airlines will impose the highest level of fuel surcharges on May flights as global oil prices surge amid escalating tensions in the Middle East, industry sources said on Thursday.Carriers set May surcharges based on the Mean of Platts Singapore (MOPS), which averaged US$214.71 per barrel from March 16 to April 15, placing them in the top-tier Level 33 bracket, the sources said. MOPS serves as a benchmark for refined petroleum products in the Asia-Pacific regio…
Seoul, April 1 (IANS) Fuel surcharges for flights operated by South Korean airlines have surged by as much as threefold from the previous month in April due to the spike in global oil prices, industry watchers said on Wednesday.Industry leader Korean Air raised its international one-way fuel surcharge to between 42,000 won (US$27.9) and 303,000 won for April, compared with 13,500 won to 99,000 won in March.On long-distance routes, such as those to New York, Chicago, Washington and Toronto, the s…
Seoul, March 10 (IANS) South Korean stocks started sharply higher on Tuesday, a day after a sharp decline, as US President Donald Trump hinted the US-Iran war “is very complete.”The benchmark Korea Composite Stock Price Index (KOSPI) rose 271.34 points, or 5.17 perc ent, to 5,523.21 at the opening bell.Overnight, the Dow Jones Industrial Average gained 0.5 per cent, the tech-heavy Nasdaq Composite advanced 1.38 per cent, and the S&P 500 increased 0.83 per cent. The KOPSI fell 5.96 per cent o…
New Delhi, March 4 (IANS) Seoul shares plunged more than 12 per cent on Wednesday, closing below the 5,100-point mark, as mounting concerns over the economic fallout from the escalating Middle East conflict rattled investor sentiment. The Korean won also fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 698.37 points, or 12.06 per cent, to close at 5,093.54, extending losses from a 7.24 per cent drop in the previous session, reports Yonhap news ag…
Seoul, March 4 (IANS) Seoul shares extended losses late on Wednesday morning, falling more than 8 per cent, as escalating concerns over the economic fallout from the Middle East conflict continued to weigh on investor sentiment.After opening 3.44 per cent lower, the Korea Composite Stock Price Index (KOSPI) extended its losses, tumbling 468.98 points, or 8.1 per cent, to 5,322.93 as of 11:45 a.m., following a plunge of more than 7.24 percent the previous session.The Korea Exchange (KRX) triggere…
Seoul, March 3 (IANS) South Korean stocks plummeted nearly 5 per cent late Tuesday morning amid escalating concerns over possible economic impacts from the ongoing Middle East conflict.South Korea’s main bourse operator, the Korea Exchange (KRX), issued a sell-side circuit breaker, temporarily halting trading after a sharp drop sparked by market concerns over U.S. airstrikes on Iran.Selling of the KOSPI 200 Futures index was suspended for five minutes at 12:05 p.m., according to KRX.The index fe…
Seoul, Jan 27 (IANS) Politicians and government officials of South Korea on Tuesday mourned the death of former Prime Minister Lee Hae-chan following his body’s return from Vietnam, where he died earlier this week.The casket containing Lee’s body arrived at a funeral home at Seoul National University Hospital in central Seoul, hours after its repatriation aboard a Korean Air flight at Incheon International Airport, west of Seoul.A Korean Air flight carrying Lee’s body, as well as bereaved family…