San-eun and other creditors: "Hyunsan's sincerity in question... Present specific demands"

Welcome HDC Hyundai Development Company's Acquisition Intent
Must Actively Engage in Negotiations for Acquisition Confirmation Conditions

[Image source=Yonhap News]

[Asia Economy Reporter Jo Gang-wook] On the 10th, the creditor banks, including the Korea Development Bank and the Export-Import Bank of Korea, requested HDC Hyundai Development Company to first present specific demands regarding their request for a "reassessment of the acquisition situation and renegotiation of acquisition conditions."

On the same day, the Korea Development Bank issued a press release titled "Creditor Banks' Position on HDC Hyundai Development Company's Acquisition of Asiana Airlines," stating, "Although there have been various market speculations about whether the acquisition would proceed, it is positive that Hyundai Development Company, despite the delayed expression of intent, has confirmed its unwavering willingness to acquire."

However, it also expressed concerns, saying, "The conditions proposed by Hyundai Development Company in the press release to finalize the acquisition require extensive consultations among stakeholders. Despite the limitations of conducting discussions solely in writing, Hyundai Development Company's suggestion to proceed only through written communication may raise doubts about the sincerity of the process."

Accordingly, the Korea Development Bank requested Hyundai Development Company to first present specific demands to facilitate progress in discussions among stakeholders from the perspective of improving efficiency concerning the "reassessment of the acquisition situation and renegotiation of acquisition conditions" requested by Hyundai Development Company. They also urged Hyundai Development Company to come directly to the negotiation table and actively engage in negotiations, rather than sending official letters or distributing press releases in the future.

Separately, the Korea Development Bank stated that it plans to proceed with discussions among stakeholders regarding the conditions proposed by Hyundai Development Company.

This content was produced with the assistance of AI translation services.