» Flying High in Korea

Flying High in Korea

By Allison Medoff

200906160005

Private business jets are taking off in Korea. The country’s top four business giants all own private jets and are expanding their fleets. Hyundai-Kia Automotive Group, the second largest organization in Korea, just bought a $71.3 million Boeing BBJ-737 corporate jet, while the third largest in the country, SK Group, plans to buy a company jet later this year. The fourth conglomerate, LG Group owns the same type of aircraft, and the top corporation in Korea, Samsung Group, already owns and operates three business jets.

Despite the tight economy, company officials are touting the benefits of corporate air travel. Business jets save time, allow flexibility, greater travel ability, and confidentiality, which justify the high cost. The use of corporate jets is reportedly on the rise as of late, according to Korea Airports Corp. Private jet departures and arrivals are up almost 100 times in the past year, at one of the 14 airports operated by Korea Airports Corp.

Via The Korea Herald

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