Asia Top News and Analysis South Korea

  • SEOUL, June 4- South Korea's economy shrank more than initially estimated in the first quarter while core inflation slowed to a near 20- year low in May, data showed on Tuesday, adding to the case for the central bank to cut interest rates. The country's gross domestic product contracted by a seasonally adjusted 0.4% in the January-March period from the previous...

  • The sixth-largest U.S. carrier has 85 A321neo aircraft on order, of which it has already decided to convert 13 into a longer-range version called the A321LR for its planned launch of daily flights from New York and Boston to London in 2021.. "London is the biggest opportunity because it has the highest fares, but there would be other opportunities if we had an...

  • For Reuters' stories from the International Air Transport Association annual meeting, see below:. >Korean Air CEO says ownership discussions are ongoing. >Qantas expects final purchase proposals for Sydney- London jets.

  • Andrew Herdman, DG of Association of Asia Pacific Airlines (AAPA).

    Ongoing U.S.-China trade tensions are negatively affecting air cargo demand — but the passenger side of the business is much more positive for Asian airlines, according to the Association of Asia Pacific Airlines.

  • Gold climbed more than 1.5% on Monday to its highest level in more than three months on concerns that U.S.-Chinese trade tensions and Washington's threat of tariffs on Mexico would hurt the global economy.

  • Kim Yong Chol, former North Korean military intelligence chief and one of leader Kim Jong Un's closest aides departs the White House on June 1, 2018 in Washington, DC.

    North Korean senior official and former top nuclear envoy Kim Yong Chol reportedly accompanied leader Kim Jong Un to a Sunday art performance signaling that the former spymaster is alive and remains a force in North Korea's power structure.

  • The FAA said up to 148 of the part known as a leading-edge slat track that were manufactured by a Boeing supplier are affected, covering 179 MAX and 133 NG aircraft worldwide. Boeing has yet to submit a software upgrade to the FAA as it works to get approval to end the grounding of the 737 MAX. In a statement issued after the FAA announcement, Boeing said it has not been...

  • *IATA cuts 2019 airline profit forecast by 21% to $28 billion. *Airlines bosses see more consolidation in Europe. The International Air Transport Association, which represents about 290 carriers or more than 80 percent of global air traffic, said the industry is expected to post a $28 billion profit in 2019, down from a December forecast of $35.5 billion.

  • SEOUL, June 2- Airbus has written to airline leaders to appeal for their backing in a trade dispute with rival Boeing, warning of higher aircraft prices and passenger fares if the United States and European Union descend into a tariff war. The appeal was issued in a letter to several airline bosses meeting in Seoul where the International Air Transport...

  • *Qatar Airways sponsors diversity and inclusion awards at meet. SEOUL, June 2- A year after Qatar Airways boss' remark that a woman could not do his job drew scathing criticism, airline executives called out the industry for paying only "lip service" to diversity and not pushing to get more women out of cabins and into boardrooms. While Akbar al-Baker had apologised...

  • SEOUL, June 2- Global airlines urged regulators on Sunday to coordinate on software changes to the Boeing 737 MAX, thus avoiding damaging splits over safety seen when the aircraft was grounded in March. The International Air Transport Association, whose 290 carriers account for 80 percent of world flying, said trust in the certification system had been damaged...

  • SEOUL, June 2- Emirates airline President Tim Clark said on Sunday that global regulators should act in a coordinated way to return the Boeing 737 MAX to service and warned it could take six months to get the grounded jet back into operation.

  • SEOUL, June 2- Global airlines slashed a key industry profit forecast by 21% on Sunday amid concerns over an expanding trade war and higher oil prices. The International Air Transport Association, which represents about 290 carriers or more than 80 percent of global air traffic, said the industry is expected to post a $28 billion profit in 2019, down from a...

  • SEOUL, June 2- Global airlines slashed a key industry profit forecast by 21% on Sunday amid concerns over an expanding trade war and higher oil prices. The International Air Transport Association, which represents about 290 carriers or more than 80 percent of global air traffic, said the industry is expected to post a $28 billion profit in 2019, down from a...

  • *Korea has larger budget airline penetration than China, Japan. JEJU, South Korea, June 1- Kim Bo-Min, a Starbucks barista, paid 140,000 won for a round-trip from her hometown of Daegu to the popular resort island of Jeju, arriving on T'Way Air Co Ltd, part of South Korea's rapidly growing low-cost airline sector. Jeju Air is South Korea's No.3 airline by revenue,...

  • *Korea has larger budget airline penetration than China, Japan. JEJU, South Korea, June 1- Kim Bo-Min, a Starbucks barista, paid 140,000 won for a round-trip from her hometown of Daegu to the popular resort island of Jeju, arriving on T'Way Air Co Ltd, part of South Korea's rapidly growing low-cost airline sector. Jeju Air is South Korea's No.3 airline by revenue,...

  • President Donald Trump threatened to impose tariffs on imports from Mexico, potentially upending a global manufacturing business model established decades ago. From Mazda Motor Corp in Japan to Volkswagen AG in Germany to General Motors Co in the United States, carmaker stocks took a hit as a new front opened in the global trade war. Swedish industrial seals...

  • *Major Japan carmakers make one third of their vehicles in Mexico. Railing against a surge of illegal immigrants across the United States' southern border, Trump said he would hit all goods coming from Mexico with a 5% tariff, and would increase that each month until reaching 25% on Oct. 1, unless Mexico takes immediate action. For years carmakers have built...

  • An employee arranges genuine bundles of South Korean 50,000 won banknotes at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea.

    South Korea's central bank kept monetary policy unchanged on Friday but a split vote in the decision provided a firm signal the bank was shifting to a dovish footing as the intensifying Sino-U.S. trade war bolstered the case for more stimulus.

  • *Major Japanese carmakers produce one third of their vehicles in Mexico. *GM is the biggest car producer and exporter in Mexico. Trump, incensed by a surge of illegal immigrants across the southern border, said late on Thursday a tariff of 5% would be imposed on all goods coming from Mexico, increasing gradually each month until reaching 25% on Oct. 1, unless Mexico...