South Korean LCCs - The end comes for Hansung Airlines

Cheongju-based LCC, Hansung Airlines, South Korea’s first LCC, ceased operations on 18-Oct-08 “for now”, due to worsening economic conditions, increasing fuel costs, a weakened Korean won and difficulties in securing funding or an investor willing to acquire the carrier. Hansung has suspended its domestic services between Seoul Gimpo, Jeju Island and Cheongju-Jeju.

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