Yes, you read the subject line right. There was an article on Korea Times on February 23rd edition on this subject. Unfortunately for most forum members, the article was in Korean ONLY, so I'll provide the link and translate (to the best of my abilities) for all to read.
Canada's #2 airline, 'Canada 3000' working on Toronto - Seoul flight. (Government aims for amendments by Oct.)
Toronto based Canada's #2 airline, Canada 3000 is working on starting a Toronto to Seoul flight. An aviation insider said on the February 21st that "Canada 3000 has been working on opening flights to Seoul for months and progress made thus far is significant". Spokesperson for Canada 3000 on interview with the paper on February 22nd said that "there is no official word on this matter. However, this does not mean that we have no such plans."
Another aviation insider said, "they could go code-share".
Korean embassy in Ottawa denied any knowledge of this possible service.
After swallowing Royal last month, Canada 3000 has been lobbying the government to make changes to the laws (restrictions) governing international route rights.
Amid Canada 3000 and other discount carriers pressures, Transportation Minister David Collenette, said earlier this month that, "Increased competition in international market will benefit consumers." and asked appropriate government authorities to make changes to allow this.
Under current regulations, those countries with less than 300,000 one-way travellers can only have one airline fly into that country. Don Kennedy, Canada 3000's CFO said, "this restriction should be lifted and should allow other carriers to compete." Last year, 56,000 Canadians visited Korea. Koreans visiting Canada numbered 105,000.
Ministry of Transportation is willing to give into these airlines' demands. Ministry of Transportation will make amendments to appropriate laws by spring and will have them go into effect by late October.
Canada 3000 started in 1988. B757-200ER, A330-200 and other planes totalling 17 jets. With recent acquisition of Royal and its 17 jets, it serves 94 destinations world-wide.
I tried my best to translate, and I think it's pretty accurate. Correct any incorrect infos. Just a word of caution- even though this is the most printed daily in Korean community, they can be wrong a lot of times. If you know the situation is not as described in the article above, post your insights here.
Personally, I wouldn't mind flying cheaper out of YYZ. It's better than flying NW/CO and make 2 connections to get to Seoul or paying extra $500 to fly KE or AC. Maybe C3 is looking into other Asian destinations as well? With the 2002 World Cup, Korea and Japan don't sound too shabby.