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The Fair Trade Commission on the 23rd Korean Air and Asiana Airlines approved a business combination In order to expedite whether or not, a dedicated team was formed to respond. FTC Vice Chairman Kim Jae-shin said in the ‘2021 business plan report’ that “we will quickly and effectively review mergers and acquisitions (M&A) in the aviation, shipbuilding, and machinery sectors that are expected to be restructured.” In relation to the merger of the two companies, the FTC put two personnel in each of the business consolidation and economic analysis divisions, and two external experts were added to form a dedicated team of six. Vice-Chairman Kim avoided specific comments on the stage in which the analysis of the impacts of the merger between the two companies is currently underway and the deadline for final decision. Vice-Chairman Kim explained, “A lot of economic analysis is needed regarding the business combination of the two companies.” “As research services and in-depth economic analysis by related scholars are necessary, it is difficult to present (final approval schedule) in the current situation.” . Earlier, the Korea Development Bank, a creditor of Asiana Airlines, announced a plan to integrate Korean Air and Asiana Airlines in November last year. Since then, on the 6th, Korean Air Extraordinary Shareholders’ MeetingIs speeding up the merger and acquisition plan, such as passing a paid-in capital increase in this regard. On the 14th, the FTC submitted a business combination report and various documents for Korean Air’s acquisition of Asiana Airlines stocks. When the two companies merge, there will be a dinosaur airline with 66% of the passenger airline market share, including the three LSIs (Jin Air, Air Busan, and Air Seoul). Is decided. The audit period for a merger is up to 4 months, but the actual audit period may be longer if the FTC has a data correction period. Meanwhile, vice-chairman Kim said in this year’s corporate merger review, “We will strengthen the review on acquisitions of potential competitors who are concerned about inhibiting innovation, but we will rationalize the review, such as exempting notifications for mergers and acquisitions for investment purposes that are less concerned about competition restrictions.” By Hong Seok-jae, staff reporter [email protected]