KDB, management evaluation criteria decided after consultation with Hanjin Kal
In the process of Korean Air’s integration of Asiana Airlines, the Korea Development Bank’s Management Evaluation Committee is composed of six members to monitor the sound management of Korean Air.
According to the office of Representative Park Sang-hyuk of the Democratic Party on the 25th, the KDB will independently select three of the six management evaluation committee members, and the remaining three will be selected through the consent process of Han Jin Kal, the holding company of Korean Air.
One out of three selected by KDB is selected as an accounting expert.
The consent of Hanjin Kal to select a member is possible within the range of the members selected and recommended by KDB
The Bank of Korea decided that only half of the members who had to obtain the consent of Hanjin Kal were limited to half of the members, so the influence of Hanjin Kal would not damage the fairness and objectivity of management evaluation.
It can be interpreted that considering the fact that if the KDB selects all the management evaluation committee members alone, the nationalization controversy may arise due to the strengthening of the KDB’s influence.
KDB plans to select detailed evaluation elements, standards, methods, and management goals for management evaluation by comprehensively considering the ongoing due diligence, post-acquisition integrated strategy (PMI) consulting, and the company’s business plan.
KDB plans to consult with Hanjin Kal when selecting evaluation indicators in consideration of the company’s business plan and airline operation expertise.
Some point out that it will be difficult to establish fair evaluation standards as Hanjin Kal, who is being evaluated, participates in preparing management evaluation standards.
The Bank of Korea drew a line that there is no possibility that the selection of management evaluation indexes will be made poorly due to the inability to negotiate, since the Management Evaluation Committee can independently determine the matters that are not negotiated according to reasonable standards.
The KDB pointed out that if the aviation industry’s expertise and aviation industry management know-how are excluded and the evaluation index is selected by forming a one-sided management evaluation committee, the reliability of the evaluation results may be lowered.
It is reported that the KDB plans to continue investment in integrated airlines for two years after integration.
/yunhap news
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution