SEOUL, Dec. 11 (Korea Bizwire) — Korean Air Co. plans to finalize its acquisition of a controlling stake in rival Asiana Airlines Inc. on Wednesday, completing the merger deal between South Korea’s leading carriers that has been sought over the past four years, according to company officials. Korean Air plans to invest 1.5 trillion won [...]
SEOUL, Dec. 11 (Korea Bizwire) — The government said Wednesday it will work to enhance the competitiveness of the domestic aviation industry while minimizing potential monopolistic harm from the soon pending merger between Korean Air Co. and Asiana Airlines Inc. The transport ministry announced an aviation industry support plan during a meeting of industries-focused ministries held at [...]
SEOUL, Nov. 21 (Korea Bizwire) — The European Union has concluded the passenger service-related remedial commitments offered by South Korean flagship carriers Korean Air Co. and Asiana Airlines Inc. for their proposed merger have been fulfilled, according to the EU’s executive body Thursday. Korean Air has divested four European passenger flight routes to low-cost carrier [...]
SEOUL, Jul. 18 (Korea Bizwire) — The planned merger of SK Innovation Co. with energy affiliate SK E&S Co. is a “structural and fundamental” decision for sustainable growth amid growing uncertainties in the EV battery and petrochemical industries, SK Innovation’s chief executive said Thursday. On Wednesday, the boards of SK Innovation and SK E&S approved [...]
SEOUL, July 17 (Korea Bizwire) – The boards of SK Innovation Co. and SK E&S Co., two major energy affiliates of SK Group, approved a proposed merger of the two companies Wednesday, creating the largest energy entity in South Korea with combined assets of 106 trillion won (US$76.5 billion). In their separate board meetings earlier [...]
SEOUL, Jul. 17 (Korea Bizwire) — SK Innovation Co. and SK E&S Co., two major energy affiliates of SK Group, are set to hold separate board meetings Wednesday to discuss a proposed merger of the two companies, industry sources said. If the merger is approved, it will create the biggest energy company in South Korea, [...]
SEOUL, Mar. 7 (Korea Bizwire) — The government said Thursday it plans to closely monitor air ticket prices amid concerns of market monopolization from an envisioned merger between Korean Air Co. and Asiana Airlines Inc. The Ministry of Land, Infrastructure and Transport announced the measures centered around the transport and logistics infrastructure for 2024 at [...]
SEOUL, Feb. 13 (Korea Bizwire) — Korean Air Co. and Asiana Airlines Inc. have now entered the final stretch of sealing their proposed merger after winning approval by the European Union of the consolidation of South Korea’s two full-service carriers. The conclusion as to whether the companies can ultimately merge themselves into a single mega-carrier [...]
SEOUL, Feb. 6 (Korea Bizwire) — The financial regulator said Tuesday it will require companies to publicly disclose details of key decisions when they push for merger deals, in an effort to better protect investors. The move was announced one day after a Seoul court cleared Samsung Electronics Co. Chairman Lee Jae-yong of any wrongdoing [...]
SEOUL, Dec. 6 (Korea Bizwire) — The antitrust regulator of the European Union announced Wednesday it plans to make a provisional decision on whether to approve a merger deal between Korean Air Co. and Asiana Airlines by mid-February. The European Commission (EC), the executive body of the EU, set its provisional deadline for the review by Feb. 14, according to its official [...]