South Gyeongsang Province plans to establish Korea's seventh LCC: Southern Air

South Gyeongsang Province confirmed (27-Jul-2016) plans to establish a local LCC tentatively named Nambu Air (Southern Air). With registered capital of KRW100 billion (USD86.7 million), 10% of the investment is expected to come from the local government with the remaining 90% to come from five other companies. The proposed LCC will be based at Busan Gimhae Airport and is expected to receive its business license in Jul-2017 ahead of commencing operations in Dec-2017, becoming the seventh Korean LCC. [more - original PR - Korean]