Shall we look at the second person?
Yes. The second is the story of Hanjin Group Chairman Cho Won-tae.
It was last 17th, this Wednesday.
Korean Air submitted a plan to the Korea Development Bank that contained the integration strategy with Asiana Airlines.
All that remains is the Korea Development Bank’s eligibility determination and the Fair Trade Commission’s business combination review. There are two like this
It looks like Chairman Cho’s dream of’leap forward as an ultra-large airline’ is drawing closer.
There have been many twists and turns over the acquisition of Asiana Airlines.
Looking at your progress so far, what’s the mood?
It’s positive.
The Fair Trade Commission also announced that it would complete the merger review between Korean Air and Aniana Air as soon as possible, so it is expected that an integrated national airline will be created in the second half of next year.
This will create the world’s top 10 largest airline with assets of 40 trillion won and annual sales of 20 trillion won.
As the acquisition work has reached the end, Chairman Cho has once again revealed a strong determination to close the merger.
At the commemoration of the 52nd anniversary of the founding of Korean Air earlier this month, Chairman Cho said, “We will focus all our capabilities on the successful acquisition of Asiana Airlines.”
Didn’t the three-party alliance of former vice president Cho Hyun-ah and Chairman Cho Won-tae have a management dispute?
How is this going?
We need to look at the situation a little more, but for now, the weight of the observation that the three-party shareholders’ alliance, which had been fighting for management rights against Chairman Cho, is disintegrating.
This is because the cause of the dispute became ambiguous as the KDB Development Bank decided to take over the role of management monitoring and checks, following the loss of power after failing to stop Korean Air from taking over Asiana Airlines at the end of last year.
The three-party alliance gave up the shareholders’ proposal ahead of this year’s regular shareholders’ meeting of Hanjin Kal.
Some of the industry is saying that Cho Hyun-ah, former vice president of Korean Air, is preparing to immigrate abroad.
Here, two days ago (17th), even though Cho’s over-the-counter sale of 55,000 shares of Hanjin Kal’s shares, some are interpreting that it means an end to the dispute over management rights.
But it’s not over until it’s over.
Chairman Cho, too, must not slow down.
Former Vice President Cho Hyun-ah has to pay 60 billion won in inheritance tax, and some interpretations say that Hanjin Kal sold shares for this purpose.
If the dispute over management rights is concluded, I wonder if Hanjin Kal’s management is stabilizing. How is the sale of the Songhyeon-dong site going on?
It was an important part of improving the financial structure.
Yes. It seems likely that the sale schedule will be postponed.
The fire of the controversy over the speculation of the new city of LH employees also sprang up on Chairman Cho.
Previously, Seoul City, Korean Air, and LH had tentatively agreed to buy and sell the Songhyeon-dong site through a three-way exchange.
When Korean Air sells the Songhyeon-dong site, LH buys the site and exchanges it for other land in Seoul.
An industry official said, “As the sale of the Songhyeon-dong site itself cannot proceed without LH’s participation, it will take some time to reach a final agreement until the situation is cleared up to some extent.”
In this case, Korean Air had a plan to secure 450 to 550 billion won this year through the sale of the site, but there was a setback.
However, Korean Air has already succeeded in a paid-in capital increase of 3,3 trillion won, so it is not in a situation where it needs funds right away.
It doesn’t seem to be a big concern.
The LH crisis also affected Korean Air.
I heard it well. It was reporter Kim Bo-mi.
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