Low-budget Airlines

[Anchor Lead]

The Korean government has granted permit to three more low-budget airlines: Fly Gangwon, Aero K and Air Premia. With nine low-budget carriers now operating in Korea, competition in the air travel market is expected to intensify further.

[Pkg]

The Ministry of Land, Infrastructure and Transport announced its decision to grant permits to three more airlines. They are Fly Gangwon, based in Yangyang in Gangwon-do Province, Aero K of Cheongju in Chungcheongbuk-do province, and Air Premia, based in Incheon. According to the ministry, Fly Gangwon pledged to attract foreign tourists to Gangwon-do Province, while Aero K promised to offer even lower air fares than other low-budget carriers. Aero Premia, is poised to target demand for long-distance flights.

[Soundbite] Jin Hyun-hwan(Min. of Land, Infrastructure and Transport) : "We hope the new carriers will contribute to innovating the Korean airline industry by stimulating competition in the air travel market, improving consumers' convenience, and promoting regional airports."

The governments of Yangyang, Cheongju and Incheon, where the three airlines are based welcomed the decision. The Ministry of Land, Infrastructure and Transport received applications from five airlines in November 2018, and examined their business feasibility. Until recently, six low-budget carriers operated in Korea -- Jeju Air, Jin Air, Air Busan, Eastar Jet, T'way and Air Seoul. But now that number expands to nine, meaning competition for attracting air travelers will intensify.