KOREAN AIR GETS OVERSEAS APPROVAL FOR THE ACQUISITION OF ASIANA AIRLINES

Highlights –

• Korean Air gets overseas approval for the acquisition of Asiana Airlines.
• Korean Air last week received its first approval from Turkey.
• Korean Air is yet to seek approval from 8 other countries.
• The airline pla...

KFTC REVIEW THE DEAL BY KOREAN AIR TO BUY ASIANA AIRLINES INC.

Highlights –

• KFTC review the deal by Korean Air to buy Asiana Airlines Inc.
• KFTC will see if the merger could constitute a monopoly or hurt market competition.
• Korean Air in November 2020 said that it will acquire its smaller rival As...

KOREAN AIR BUYING CASH-STRAPPED ASIANA AIRLINES’ LONG-HAUL OPERATIONS

• With major lenders of Asiana Airlines failing to find a potential buyer for the cash-strapped carrier, an understandable scenario is surfacing that the Korea Development Bank (KDB) will let Korean Air manage Asiana's long-haul business, industry sources said Friday.
• The pre...

HYUNDAI TO ROLL OUT WITH STARBUCKS EMBELLISHED PLCC TO RETAIN ATTRACTIVENESS

• Hyundai Card is anticipated to launch its Starbucks branded private label credit card (PLCC) this week at the earliest.
• Starbucks Coffee Korea wrote on its website Oct. 5 that its privacy policy will be overhauled Oct. 15 to mix business data with Hyundai Motor Group's card...

SOUTH KOREA ‘S LANDSLIDE GAMBIT OPERATING PASSENGER PLANES AS FREIGHT CARRIERS

• South Korea’s prominent national airline carriers Korean Air and Asian Airlines surprised the flailing market last week by registering an operating profit in the second quarter, while major airlines across the world was caught in a quagmire suffering losses due to the pandemic.
...

KOREAN AIR TO GET FINANCIAL AID OF $828 MILLION

HIGHLIGHTS

• To keep Korean Air Lines Co. afloat, South Korean government has decided to offer a financial aid to the flagship airline service.
• The outspread of coronavirus has frozen the operations of many businesses and airline services are no excepti...

SOUTH KOREAN AIR CARRIER'S PLAN TO LEASE NEW AIRCRAFT HIT COMMOTION

Highlights –

• COVID-19 has created a commotion among South Korean air carriers plans to lease new aircrafts
• Air Busan had signed up to lease two Airbus 321 Neo LR aircrafts
• Korean Air said is also contemplating reviewing its plan to i...

JAPAN RESTRICTS KOREAN VISITORS - SOUTH KOREAN AIRLINES SHARP DECLINE

Highlights –

• As a precautionary measure, Japan has restricted entry to South Koreans in their country
• If they arrive, they will have to stay at designated facilities for two weeks
• South Korea to reciprocate the same towards Japan

EASTAR JET REDUCING EMPLOYEE SALARIES BY 30% AMID COVID-19

Highlights –

• Eastar Jet losing business
• Reducing employee salaries by 30%
• Temporary measures till June 2020.

The effects of COVID-19 continues to strike the South Korean business industry. According to Eastar Jet, S...

HANJIN GROUP SIBLINGS BATTLE IT OUT FOR THE THRONE

Highlights –

• Hanjin Heiress Cho Hyun Ah, Hanjin KAL Cho Won Tae battle continues
• Cho Hyun Ah coalition with Korea Corporate Governance Improvement, Bando Engineering & Construction

According to a report by the Maeil Busines...