The Korea Times

Korean LCCs ditch 'low-cost' image in push for higher-value customers

Korean airlines are moving away from the low-cost carrier (LCC) label in a bid to attract higher-value customers and build stronger brand identities. The shift is being led by airlines adopting hybrid models between full-service carriers (FSCs) and traditional LCCs. Air Premia has positioned itself as a premium hybrid carrier, while newly rebranded Trinity Airways is introducing the concept of what it calls “selective service carrier.” Trinity Airways, formerly T’way Air, explained the new identity reflects the carrier’s willingness to provide selected services based on customer demand by moving beyond typical images from FSCs and LCCs. The rebranding reflects a broader challenge facing LCCs. The low-cost model, built around cheap fares and limited services, has become increasingly difficult to sustain amid rising fuel costs, labor expenses and intensifying competition. Despite the rebranding strategy, both Air Premia and Trinity Airways still suffer from losses. Last year, Air Premia was ordered to improve its financial condition by the Ministry of Land, Infrastructure and Trans

3h agoBy Lee Min-hyung

Korean LCCs ditch 'low-cost' image in push for higher-value customers

Companies

Airports become unlikely summer refuge for older Koreans

YEONGJONG ISLAND, Incheon — Beneath the cool air blowing from the ceiling vents of Incheon International Airport's Terminal 2, dozens of older residents settled into passenger lounges Thursday afternoon, turning the nation's largest airport into an unexpected refuge from a relentless summer heat wave. Some sat quietly with their eyes closed beneath the steady hum of air conditioning. Others chatted in small groups or watched the stream of travelers passing through the terminal. Few carried suitcases. None appeared to be going anywhere. As record-breaking heat waves and tropical nights continue to scorch the country, Korea's largest airport has quietly become an unlikely sanctuary for vulnerable residents. Retirees aged 65 and older can travel to the airport for free under Korea's senior subway fare exemption program, allowing them to spend hours escaping the heat inside the terminal's spacious halls. Some passenger seats throughout Terminal 2 were occupied by groups of elderly visitors who looked more like regulars than travelers. Some had settled into lounge areas for long conversation

12h agoBy Lee Min-hyung

Airports become unlikely summer refuge for older Koreans

Companies

Incheon airport aims at becoming Asian MRO hub

YEONGJONG ISLAND, Incheon — Incheon International Airport is moving beyond its traditional role as a passenger and cargo gateway, expanding into high-value aviation maintenance, repair and overhaul (MRO) services through a large-scale aircraft conversion and maintenance complex. The Incheon International Airport Corp. (IIAC) said Thursday the construction of the airport's first tenant facility — a passenger-to-freighter (P2F) conversion center within its High-Tech Aviation Complex — was completed late last year. It has since entered full-scale operations, marking a major milestone in Korea's effort to build a competitive domestic MRO industry. The global MRO market is projected to grow from approximately 171 trillion won ($120 billion) in 2025 to 224 trillion won by 2035, expanding at an average annual rate of 2.7 percent, according to data from the airport operator. Despite the industry's strategic importance for aviation safety, Korea has long relied on overseas providers because of its limited domestic maintenance ecosystem, high labor costs and substantial upfront investment r

1d agoBy Lee Min-hyung

Incheon airport aims at becoming Asian MRO hub

Companies

PHOTO Trinity Airways debuts with new uniform

Flight attendants showcase Trinity Airways' new uniforms during the airline's brand launch and uniform runway event in Seoul, Thursday. The low-cost carrier, formerly T'way Air, was rebranded after it was acquired by Sono Trinity Group. Joint Press Corps

1d agoBy Lee Min-hyung

[PHOTO] Trinity Airways debuts with new uniform

Companies

Korea's China dilemma deepens as Chinese carmakers expand strategic influence

Chinese carmakers are rapidly cementing their presence across Korea's automotive industry by expanding beyond low-priced electric vehicles (EVs) into strategic investments and critical supply chains. This puts their Korean counterparts in a state of growing dilemma over their future strategy, as the pace of Chinese carmakers’ inroads is widely seen as much faster and far-reaching than expected. The latest in a series of such moves came on Sunday when KGM signed a strategic investment agreement with China’s Chery Automobile. Under the agreement, Chery will invest $75 million in KGM and jointly develop mobility technologies with the Korean automaker. The deal followed the rapid expansion of BYD Korea. The Chinese EV maker entered the Korean market in January 2025, and rose to become the nation’s fourth-largest imported carmaker in the first half of this year. Reflecting on the success of BYD Korea, other Chinese carmaker, such as Zeekr and Xpeng, prepares to enter the market directly. The developments suggest Chinese players are shifting from simply exporting vehicles to building a lo

2d agoBy Lee Min-hyung

Korea's China dilemma deepens as Chinese carmakers expand strategic influence

Others

Korea to review joining CPTPP for export growth

Korea will review joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to broaden its trade network and reduce reliance on traditional export markets, Industry Minister Kim Jung-kwan said Tuesday. In a policy briefing to President Lee Jae Myung, Kim identified the review as a key agenda item for the second half of this year. “We will review joining the CPTPP to secure new markets, such as the Association of Southeast Asian Nations and Mexico, and accelerate exports of K-content and consumer goods,” Kim said. He stressed that the government would “fully gather opinions from interested parties, including the agricultural and fisheries sectors and the National Assembly,” acknowledging the sensitivity of the trade pact for domestic producers. The CPTPP is one of the world's largest free trade agreements, comprising 12 economies and reducing or eliminating tariffs on most goods traded among its members while establishing common rules for trade, investment and digital commerce. Its 12 members are Japan, Australia, Canada, Mexico, the United Kingdom,

Aug 4, 2026By Lee Min-hyung

Korea to review joining CPTPP for export growth

Companies

Hankook Tire turns beach parking lots into safety checkpoints

DONGHAE, Gangwon Province — On a sweltering summer afternoon at Mangsang Beach, drivers returning from the shoreline may have expected little more than a crowded parking lot and sand-covered vehicles. Instead, many of them were greeted by a group of young Hankook Tire staff members asking a simple question: "Would you like a free tire inspection?" Within minutes, tire pressure was checked, tread wear measured and air topped up where needed. For many families preparing for the drive home, the five-minute inspection became an unexpected reminder that road safety often begins long before a vehicle reaches the highway. The scene is part of Hankook Tire’s "Tire Boy" campaign, a traveling road safety initiative designed to bring tire inspections directly to motorists instead of waiting for them to visit repair shops. Inspired by the "beer boys" who weave through baseball stadiums selling drinks to spectators, Tire Boy reverses the traditional service model by taking tire maintenance to places where drivers naturally gather. The campaign, launched in 2025, is part of the tiremaker’s core b

Aug 4, 2026By Lee Min-hyung

Hankook Tire turns beach parking lots into safety checkpoints

Companies

KGM secures $75 mil. strategic investment from China's Chery

KGM has secured a $75 million strategic investment from China's Chery Automobile for the Korean carmaker’s new vehicles and future mobility technology, the companies said Sunday. The investment marks the latest step in an alliance that has evolved beyond product collaboration into a long-term strategic partnership focused on future growth, KGM said. The agreement follows a platform licensing deal signed by the two companies in October 2024 and a joint development pact for mid-sized and large SUVs reached in April 2025. Both carmakers also plan to deepen cooperation across software-defined vehicles (SDVs), electrical and electronic architecture, autonomous driving and electrification. KGM Chairman Kwak Jea-sun described the strategic alliances as indispensable for automakers seeking sustainable growth. "Global cooperation has become essential for securing future growth engines," Kwak told reporters during a press conference. "By combining KGM's 70 years of engineering expertise with Chery's outstanding technological capabilities, we will further strengthen our competitiveness and grow int

Aug 3, 2026By Lee Min-hyung

KGM secures $75 mil. strategic investment from China's Chery

Companies

PHOTO Hyundai Motor chief inspects IONIQ 3 line in Turkey

Hyundai Motor Group Executive Chair Chung Euisun, second from left, speaks as he inspects the carmaker’s production line in Izmit, Turkey, Thursday. The facility is key to the assembly of the carmaker’s Europe-focused IONIQ 3 all-electric hatchback. Courtesy of Hyundai Motor Group

Aug 2, 2026By Lee Min-hyung

[PHOTO] Hyundai Motor chief inspects IONIQ 3 line in Turkey

Companies

Korea approves KORAIL-SR merger

Korea's antitrust regulator has approved the merger of state-run rail operators — Korea Railroad Corp. (KORAIL) and SR — clearing the way for the country's first integrated high-speed rail system and a broad overhaul to lower fares, expand capacity and improve passenger services. The Fair Trade Commission (FTC) said Sunday it found little risk that the transaction would substantially lessen competition in the high-speed rail passenger market. The approval allows KORAIL to acquire SR's business and a controlling stake previously held by the government, with the integration scheduled to be completed in September. The decision ends a decade-long dual-operator structure under which KORAIL operated KTX services while SR ran the lower-fare SRT network. The antitrust watchdog conducted a full assessment for the transaction, citing the high-speed rail sector's importance to the national economy and consumers. The regulator concluded that competition concerns would remain limited because fares, service schedules and operational plans are already subject to extensive government oversight. Any fa

Aug 2, 2026By Lee Min-hyung

Lee Min-hyung

Read more

Korean LCCs ditch 'low-cost' image in push for higher-value customers

Airports become unlikely summer refuge for older Koreans

Incheon airport aims at becoming Asian MRO hub

PHOTO Trinity Airways debuts with new uniform

Korea's China dilemma deepens as Chinese carmakers expand strategic influence

Korea to review joining CPTPP for export growth

Hankook Tire turns beach parking lots into safety checkpoints

KGM secures $75 mil. strategic investment from China's Chery

PHOTO Hyundai Motor chief inspects IONIQ 3 line in Turkey

Korea approves KORAIL-SR merger

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