Another thread on this here. According to this blogger, they axed it on 11/16/2014.

Not that Chase will concern themselves, but I did log in and send a politely worded SM regarding what a disappointment this is. I'm a very infrequent customer of Korean Air, but I will also send them a polite complaint. Happily, I booked my seat for LAX <--> ICN about two months ago.

This is a big bummer and I'm so sorry to hear about the unfortunate timing for you.

That said, you still have some options (albeit less attractive). Here are my thoughts:
1. You can still transfer from UR to Hyatt and then to KE...you'll lose 50% this way which sucks but it could work if you have a lot of UR and the itinerary you had in mind is your dream itinerary...for a honeymoon this may be worth it.
2. I'd call Chase explain that you had made 1 transfer and that you were ready to make another for your honeymoon. Ask them if they'll give you a customer service bonus so that you can transfer to Hyatt and then on to KE.
3. Have you signed up for the KE card? This could help a bit.

That's bad

I just looked into this, and it's even worse than you describe. The transfer rate is 1 KE for 2.5 Hyatt unless you transfer 50k Hyatt, then you get 25k KE for the 50% loss that you mention.

I have the KE Visa, but I couldn't possibly use it enough to get the additional miles that I need, which I was planning to transfer from Chase UR. Does anyone know if the KE Visa is churnable?

The issue is I need 80k KE for our second ticket but only have 100k chase left, so the Hyatt option wont work. Plus, our seats are only on hold until Dec 4, so no time to get another credit card.

Or, I can book with 125k delta that I don't have... Unless someone wants Chase UR for delta ;)

I will try asking if they will give me a bonus to go the Hyatt route, but its doubtful.

I just can't believe that given the 30 second difference in timing of my successful transfer to my wife's unsuccessful one, that Chase wouldn't make a small exception and do the right thing.

Totally agree. That's quite a raw deal, especially in light of the stated purpose of your flights.

I have a KE F award reservation on hold, which I had been planning to ticket in the next few days. Guess I have to find an alternative.

If true, I don't see much value in UR any more: UA has been massively devalued, BA, SQ and VS are also partners of MR (and all of them impose fuel surcharge on most awards), and I don't fly WN. Maybe Hyatt is somewhat useful but that's about it for me.

It no longer is.

Thanks, I stand corrected. Looks like they left a few months ago.

Same here. I just sent a secure message to Chase saying that I wanted to make a transfer to KE, but could not find KE listed. I asked if there is a problem currently with transfers to KE, as if I had no idea that they pulled KE from their airline list. I want to see what response I get, then I will revert back indignantly about the lack of notice.

I suggest that everyone else send an inquiring secure message so that Chase knows that they have pissed off a lot of their customers. Maybe they can get a temporary reinstatement, but I am not holding my breath.

They got a nice message from me.

There a couple off-topic posts, and responses, that have been deleted. Let's stay On Topic please.

if you want good response and support, call the Chase executive team.The regular employees don't know why, how and what to tell you

If you go to, for example, the CSP application website for Chase, they specifically (still) advertise that Korean Air is a transfer partner. I think they are going to have a PR mess on their hands.

It's incredible.

I think I will stop using the Chase card now.
I don't know any direct programs I would be interested in if it's not KAL.