Latest news with #KoreanAir
Korea Herald
4 days ago
- Business
- Korea Herald
Seoul shares end lower on retail selling amid tariff worries
Seoul shares closed lower Friday as investors remained cautious over US President Donald Trump's latest tariff threat. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 4.22 points, or 0.13 percent, to close at 3,188.07. The main index rose 0.39 percent for the week. Trade volume was moderate at 389.98 million shares worth 11.84 trillion won ($8.5 billion). Decliners outnumbered gainers 589 to 303. The KOSPI reversed earlier gains after opening higher, tracking overnight gains on Wall Street. The Dow Jones Industrial Average rose 0.52 percent and the tech-heavy Nasdaq composite climbed 0.75 percent. Individuals sold a net 340.72 billion won worth of stocks, offsetting stock purchases by institutions and foreigners of 61.85 billion won and 187.72 billion won, respectively. Trump recently notified key US trading partners of new tariff rates set to take effect Aug. 1 unless they offer sweetened terms in ongoing negotiations. Investors are awaiting second-quarter earnings results from major companies in the coming weeks for clues on the market's direction, while keeping an eye on further developments in US trade policy, analysts said. In Seoul, large-cap stocks were mixed. Leading shipbuilder HD Hyundai fell 2.18 percent to 134,800 won, and state-run utility firm Korea Electric Power Corp. declined 0.68 percent to 36,250 won. National flag carrier Korean Air dropped 0.95 percent to 25,950 won, and No. 1 shipping firm HMM shed 0.99 percent to 25,000 won. Among gainers, top carmaker Hyundai Motor rose 0.24 percent to 210,500 won and market behemoth Samsung Electronics climbed 0.6 percent to 67,100 won. Leading steelmaker Posco Holdings gained 1.14 percent to 311,000 won, and leading battery firm LG Energy Solution rose 1.74 percent to 322,500 won. The local currency was quoted at 1,393.00 won against the greenback at 3:30 p.m., down 0.4 won from the previous session. (Yonhap)
Yahoo
11-07-2025
- Business
- Yahoo
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL (Reuters) -Korean Air reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines last year. ($1=1,375.1600 won) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
11-07-2025
- Business
- Reuters
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL, July 11 (Reuters) - Korean Air ( opens new tab reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines ( opens new tab last year. ($1=1,375.1600 won)
Yahoo
11-07-2025
- Business
- Yahoo
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL (Reuters) -Korean Air reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines last year. ($1=1,375.1600 won) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
06-07-2025
- Business
- Korea Herald
Korean Air grows role in aerospace , defense
Korean Air, the country's largest airline, is broadening its role in the global aerospace sector, leveraging its long-standing expertise in aircraft manufacturing, military aviation support and maintenance services, the company said Sunday. Since starting wing structure production for the Boeing 747 in 1986, Korean Air has supplied key components for numerous Boeing aircraft. The airline currently produces five major structural parts for the 787, with annual production projected to exceed 120 units as the aviation industry rebounds post-pandemic, It has delivered over 1,200 units since 2007. In partnership with Airbus, Korean Air has supplied approximately 4,200 sharklets for the A320 series since 2012, after winning a competitive international bid against firms from Japan, Germany and France. It was later chosen as the sole supplier of sharklets for the A330neo and has taken part in Airbus's 'Wing of Tomorrow' project, focused on advanced composite wing technologies. It also supplies cargo and bulk doors for the A350 and Airbus Helicopters. The company is also gaining ground in the defense sector. In April 2025, it was named the preferred bidder for a 1 trillion won ($735.5 million) project to upgrade UH-60 Black Hawk helicopters. This follows decades of military aircraft support, including the maintenance and upgrade of fighter jets such as the F-4, F-5, and F-15, and transport aircraft like the C-130. Korean Air is actively developing unmanned aerial vehicle (UAV) technology, and has partnered with US defense firm Anduril to collaborate on autonomous UAVs. Korean Air also maintains a strong presence in the maintenance, repair and overhaul (MRO) industry. Since 1972, it has serviced around 5,000 aircraft engines and holds certifications from major aviation regulators in the US, Europe and China. The company joined Pratt & Whitney's MRO network in 2021 and began servicing PW1100G-JM engines in 2023. Pratt & Whitney is a leading US-based aerospace manufacturer known for its advanced commercial and military aircraft engines. Korean Air is expanding its engine maintenance capabilities from six to nine models, including GEnx and LEAP-1B, and is reviewing services for newer engines like the Trent XWB. A new maintenance facility in Yeongjongdo, Incheon, set for completion in 2027, will triple capacity and boost job creation. Combining civil and defense capabilities across structures and engines, Korean Air is evolving into a total aerospace solutions provider. By reinforcing global partnerships and technological expertise, the airline aims to expand its role in the high-value aerospace market.
