Korea's six major low-cost carriers decided to raise basic fares for domestic flights. After five years of no hike in ticket prices, they finally decided to reflect some of the increases in consumer prices.
The nation's No. 1 low-cost air carrier Jeju Air will raise its fares for four domestic routes, i.e., the routes linking Jeju with Gimpo, Busan, Cheongju, and Daegu, effective from March 30. This would be the first time for Jeju Air to raise its fares since 2012.
The level of weekday fares would remain unchanged but weekends and peak season fares would be raised in a range from 2.5 percent to 11 percent.
The one-way ticket for weekends from Gimpo to Jeju, for example, would be increased by 5.3 percent from 76,000 won to 80,000 won.
Jeju Air is not alone. Other budget airlines, including Air Busan, Eastar Jet, and T'way Air, also decided to raise fares for domestic flights from the end of this month.
Mirae Asset Global Investments Co. Ltd. invested 54 billion won ($48 million) last week in mezzanine debt secured on two warehouses leased to FedEx Corporation on behalf of South Korean institutional investors, in its second investment in the logistics facilities&hellip
Hana Financial Group, the parent company of KEB Hana Bank, will acquire a shopping center building and its surrounding land in a small Japanese city in a deal worth around 50 billion won ($44 million), with a view to reselling&hellip
KEB Hana Bank, a leading South Korean lender, has arranged $300 million lease financing for an aircraft portfolio of Avolon, in the first financing arrangement by a South Korean bank for the Irish aircraft leasing firm, according to local newspaper reports.&hellip