Close Menu
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds

Subscribe to Updates

Get the latest markets and assets news and updates directly to your inbox.

Trending Now

Investors undergo ‘buyers’ strike’ in June sending order values to two year low

July 8, 2025

QNB Signs Definitive Agreement, Finalizes Terms for Biofuel and Hydrogen Technology

July 8, 2025

Renewable energy missing out on AI boom despite fuelling the trend

July 8, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Asset ObserverThe Asset Observer
Newsletter
LIVE MARKET DATA
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds
The Asset ObserverThe Asset Observer
Home»Stocks
Stocks

South Korea orders air safety probe after the country’s worst crash kills 179 By Reuters

News RoomBy News RoomDecember 30, 2024
Share
Facebook Twitter LinkedIn Pinterest Email

By Ju-min Park and Hongji Kim

MUAN COUNTY, South Korea (Reuters) -South Korea’s acting President Choi Sang-mok on Monday ordered an emergency safety inspection of the country’s entire airline operation system as investigators worked to identify victims and find what caused the country’s deadliest air disaster.

The crash on Sunday killed 179 people when a Jeju Air jet belly-landed and skidded off the end of the runway, erupting in a fireball as it slammed into a wall at Muan International Airport. Two crew members were pulled out alive.

The top priority for now is identifying the victims, supporting their families and treating the two survivors, Choi told a disaster management meeting in Seoul.

“Even before the final results are out, we ask that officials transparently disclose the accident investigation process and promptly inform the bereaved families,” he said.

“As soon as the accident recovery is conducted, the Transport Ministry is requested to conduct an emergency safety inspection of the entire aircraft operation system to prevent recurrence of aircraft accidents,” he said.

Jeju Air flight 7C2216, arriving from the Thai capital Bangkok with 175 passengers and six crew on board, was trying to land shortly after 9 a.m. (0000 GMT) on Sunday at the airport in the south of the country.

Investigators are examining bird strikes and weather conditions as possible factors in the crash, fire officials have said. Experts say many questions remain, including why the twin-engine Boeing (NYSE:) 737-800 appeared to be travelling so fast and why its landing gear did not appear to be down when it skidded down the runway and into a wall.

The crash killed mostly local residents who were returning from holidays in Thailand, while two Thai nationals also died.

On Monday morning, investigators were trying to identify some of the last remaining victims, as anguished families waited inside the Muan airport terminal.

Park Han-shin, who lost his brother in the crash, said he was told by authorities that his brother had been identified but has not been able to see his body.

Park called on other victims’ families to unite in responding to the disaster and recovery efforts, citing a 2014 ferry sinking that killed more than 300 people. Prolonged efforts to identify the victims and cause of the sinking followed that disaster.

Emergency workers were sifting through wreckage that was nearly completely destroyed when the aircraft was engulfed in an explosion of flames and debris at the regional airport near the country’s winding western coastline.

Transportation ministry officials said the jet’s flight data recorder was recovered but appeared to have sustained some damage on the outside and it was not yet clear whether the data was sufficiently intact to be analyzed.

The Muan airport remains closed through Wednesday but the rest of the country’s international and regional airports including the main Incheon International Airport were operating as scheduled.

Shares of South Korean budget carrier Jeju Air hit their lowest level on record on Monday, trading as much as 15.7% lower.

Under global aviation rules, South Korea will lead a civil investigation into the crash and automatically involve the National Transportation Safety Board (NTSB) in the United States where the plane was designed and built.

The NTSB said it was leading a team of U.S. investigators to help South Korea’s aviation authority. Boeing and the Federal Aviation Administration were also taking part.

Choi, who was overseeing recovery efforts and the investigation, became acting leader just three days ago after the country’s president and prime minister were impeached over the imposition of a short-lived martial law.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Keep Reading

Ulta Beauty is starting to separate itself from the competition, analyst says

OPEC+ to boost oil production even more than expected in August

A new crypto frontier is emerging on Wall Street, beyond bitcoin and ether. But here are the risks.

The wrong kind of Fed rate cuts are coming, says JPMorgan. What that means for stocks, bonds and the dollar.

What drove stock market’s record-breaking week? Don’t overlook growing rate-cut expectations.

Nike’s stock is headed for a ‘swoosh’-shaped recovery after years of pain, analyst says

20 banks expected to increase their dividends the most following the Fed’s stress tests

Office-furniture maker Steelcase cut jobs in the first quarter. And more cuts could be coming.

Does Nike need to look to the ’90s to make a comeback? Wall Street braces for potentially ‘painful’ earnings, awaits stock to bottom out.

Recent Posts
  • Investors undergo ‘buyers’ strike’ in June sending order values to two year low
  • QNB Signs Definitive Agreement, Finalizes Terms for Biofuel and Hydrogen Technology
  • Renewable energy missing out on AI boom despite fuelling the trend
  • Asara Resources: Advancing the Next West African Gold Camp
  • How Does the Economy Impact the Art Market?

Subscribe to Newsletter

Get the latest markets and assets news and updates directly to your inbox.

Editors Picks

QNB Signs Definitive Agreement, Finalizes Terms for Biofuel and Hydrogen Technology

July 8, 2025

Renewable energy missing out on AI boom despite fuelling the trend

July 8, 2025

Asara Resources: Advancing the Next West African Gold Camp

July 8, 2025

How Does the Economy Impact the Art Market?

July 8, 2025

Prospect New Orleans Will Not Mount Next Edition in 2027

July 8, 2025
Facebook X (Twitter) Instagram
© 2025 The Asset Observer. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.