Eun Sung-soo: "Asiana, Support from Kian Fund Possible if Sale Fails"

Financial Services Commission Chairman Eun Sung-soo is attending the plenary session of the National Assembly's Political Affairs Committee on the 29th, talking with Vice Chairman Son Byung-doo. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kangwook Cho] Eun Sung-soo, Chairman of the Financial Services Commission, stated that support through the Industrial Stabilization Fund is possible if the sale of Asiana Airlines falls through.

On the 29th, Chairman Eun attended the plenary session of the Political Affairs Committee held at the National Assembly in Yeouido, Seoul. In response to a question from Oh Ki-hyung, a member of the Democratic Party of Korea, regarding the deadlock in the Asiana sale, he said, "If the deal with HDC Hyundai Development Company breaks down and Asiana Airlines applies for the Industrial Stabilization Fund, I believe the eligibility requirements are sufficient."

However, he added, "The Fund Management Deliberation Committee makes the final decision."

When asked if there is an alternative if the acquisition of Asiana Airlines does not succeed, he replied, "I understand that Asiana Airlines and the creditors are also considering the possibility that the acquisition may not go through."

Chairman Eun explained, "Hyundai Development Company insists on conducting due diligence again, and the creditors said they cannot allow indefinite due diligence to drag on and asked for an answer."

In response to a question from Yoon Jae-ok of the United Future Party about whether nationalization of Asiana Airlines is being considered, Chairman Eun said, "If the acquisition fails and liquidity is immediately insufficient, the Industrial Stabilization Fund, which is government money, will provide support. Reporters seem to have described this as nationalization," adding, "In any case, such a possibility can be included."

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