Korean Air is facing a growing mileage-related liability as it moves to integrate its mileage program with that of Asiana Airlines, with higher redemption requirements adding pressure on the combined carrier’s ticket sales and profitability. Last week, the Fair Trade Commission (FTC) approved the airlines’ mileage integration plan, requiring Korean Air to provide more opportunities for customers to use their accumulated miles. Under the plan, Asiana miles will remain separately available for 10 years after the merger. As of the end of June, Korean Air’s consolidated mileage-related deferred revenue stood at 4.07 trillion won ($2.94 billion), including 3.12 trillion won for Korean Air and 946.3 billion won for Asiana, according to the companies’ interim reports. The amount represents the value allocated to unused miles that have yet to be redeemed and is recorded as a liability until the related services are provided. The figure does not represent conventional debt that Korean Air must repay in cash. Rather, it reflects future service obligations. When customers redeem their mile

Korea’s defense industry stands at a critical crossroads, as its export boom gives way to a new phase in which major overseas buyers are demanding local production and supply chains in their own markets. From K9 self-propelled howitzers and K2 battle tanks to Chunmoo multiple rocket launchers and air defense systems, Korean-made weapons have rapidly expanded their presence across Europe and other regions. The export boom has transformed the defense industry from a largely domestic-oriented sector into one of Korea’s emerging global growth engines. But the next stage may prove more challenging. Korean defense firms can no longer rely solely on their traditional strengths of competitive prices, fast delivery and proven manufacturing capabilities. As major customers increasingly demand technology transfers, local production and participation in their own defense industries, Korean companies are pushed to become not just arms exporters, but long-term industrial partners. That shift could determine whether the current K-defense boom develops into a sustainable global business or remains a t

Korea has emerged as a major player in the global defense market, with its domestically developed weapons systems gaining traction for their competitive prices, advanced technology and fast delivery. From artillery and tanks to fighter jets and missile defense systems, Korean defense companies are expanding their global footprint and reshaping the country’s position in the international arms industry. K9 Thunder The K9 Thunder is Korea’s flagship self-propelled howitzer and one of the country’s most successful defense export items. Designed to provide mobile, long-range artillery fire support for ground forces, the 155-millimeter system can rapidly move, fire and relocate, making it well-suited to modern, highly mobile battlefields. The K9 is now used or being introduced by a growing list of countries, including Poland, Australia, Egypt, India, Norway, Finland, Estonia and Turkey. Poland has emerged as its largest export customer under a major deal to reinforce its artillery capabilities in the wake of Russia’s invasion of Ukraine. Redback IFV The Redback is Hanwha Aerospace’s nex

Renault Korea’s flagship crossover, the Filante, looks imposing at first glance, but feels surprisingly agile behind the wheel. Its planted ride, refined cabin and better-than-expected fuel economy give the large crossover a distinctive mix of comfort and driving appeal. The Filante was driven for about 400 kilometers on a round trip between Seoul and Daejeon, covering a mix of urban roads and highways. Across the route, the crossover delivered a stable ride and impressive fuel efficiency, making a strong overall impression. The Filante shares some of its design cues with Renault Korea’s popular Grand Koleos SUV, but carries a more upscale and sportier character. Measuring 4,915 millimeters in length and 1,635 millimeters in height, it has a substantial presence. Yet its low, flowing roofline and floating rear spoiler give the large body a sleeker profile, blending elements of a sedan and an SUV. The difference becomes more apparent once the car gets moving. The Filante’s driving character can be summed up in one word: planted. Its E-Tech hybrid powertrain combines a 1.5-liter turbo

Cheong Wa Dae said Saturday that President Lee Jae Myung's remarks ruling out troop dispatches that could involve the country in a war were not a refusal of U.S. President Donald Trump's request for Seoul to send forces to the strategic Strait of Hormuz. The presidential office clarified the position after the New York Times reported that Lee's comments at a press conference Friday amounted to a rejection of Trump's appeal for Seoul's military cooperation in the Middle East. "Lee did not turn down Trump's request for Korea's cooperation on Middle East-related issues during yesterday's press conference," a presidential official told reporters on condition of anonymity. "The government has been reviewing practical ways to contribute in close communication with the international community, including the United States, in order to protect our citizens and safeguard national interests." Seoul will continue to examine concrete options under its stated principle of not intervening in a war or combat, the official added. On Friday, Lee said during the nationally televised press conference that "

Justice minister nominee Kim Seung-won withdrew his nomination on Saturday following allegations concerning his involvement in a COVID-19 treatment and approval of its clinical trials. “After much deliberation, I decided to step down as the nominee for justice minister. I apologize for failing to live up to your expectations,” Kim said during a press conference at the National Assembly. The move comes after a parliamentary committee adopted his confirmation hearing report Thursday amid objections from the main opposition People Power Party over the allegations. Kim, a two-term lawmaker of the ruling Democratic Party of Korea (DPK), served as a judge at the Jeonju District Court and the Suwon District Court before joining the presidential office under the liberal Moon Jae-in administration, where he worked in the office of political affairs. He was elected to the 21st National Assembly in 2020 and later served as DPK's legal affairs committee chief.

Korea and the United States pledged to reinforce cooperation to accelerate the transition of wartime operational control (OPCON) to Seoul from Washington during their senior-level defense talks this week, a joint statement said Friday. The allies held the 29th Korea-U.S. Integrated Defense Dialogue (KIDD) in Korea's southeastern city of Busan from Wednesday to Friday, as President Lee Jae Myung's administration seeks to retake wartime OPCON before the end of its term in 2030. "Both sides evaluated the work to modernize the alliance in the face of an evolving security environment," they said in the statement. "They also assessed progress on the Conditions-based Wartime Operational Control Transition Plan, and pledged to strengthen cooperation to accelerate the transition of wartime OPCON," they added. Seoul and Washington have been working on the conditions-based OPCON transfer since they agreed on it in October 2014. The conditions include Korea's capabilities to lead combined Korea-U.S. forces, its strike and air defense capabilities, and a regional security environment conducive to suc

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Korea and the United States pledged to reinforce cooperation to accelerate the transition of wartime operational control (OPCON) to Seoul from Washington during their senior-level defense talks this week, a joint statement said Friday. The allies held the 29th Korea-U.S. Integrated Defense Dialogue (KIDD) in Korea's southeastern city of Busan from Wednesday to Friday (Korea time), as Korean President Lee Jae Myung's administration seeks to retake wartime OPCON before the end of its term in 2030. "Both sides evaluated the work to modernize the alliance in the face of an evolving security environment," they said in the statement. "They also assessed progress on the Conditions-based Wartime Operational Control Transition Plan, and pledged to strengthen cooperation to accelerate the transition of wartime OPCON," they added. Seoul and Washington have been working on the conditions-based OPCON transfer since they agreed on it in October 2014. The conditions include Korea's capabilities to lead combined Korea-U.S. forces, its strike and air defense capabilities, and a regional security environm

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Justice Minister nominee Kim Seung-won withdrew his nomination on Saturday following allegations concerning his involvement in a COVID-19 treatment and approval of its clinical trials. “After much deliberation, I decided to step down as the nominee for minister of justice ministry. I apologize for failing to live up to your expectations,” Kim said during a press conference at the National Assembly. Kim, a two-term lawmaker of the ruling Democratic Party of Korea (DPK), served as a judge at the Jeonju District Court and the Suwon District Court before joining the presidential office under the liberal Moon Jae-in administration, where he worked in the office of political affairs. He was elected to the 21st National Assembly in 2020 and later served as DPK's legal affairs committee chief.

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