Lee Dong-geol - Chung Mong-gyu Meeting "No Specific Discussions... Opinion on Possibility of Consultation Conveyed"

[Image source=Yonhap News]

[Asia Economy Reporter Kangwook Jo] Lee Dong-geol, Chairman of the Korea Development Bank, met with Chung Mong-gyu, Chairman of HDC Hyundai Development Company, on the 26th and conveyed his opinion on the possibility of future consultations. However, it was understood that there were no concrete discussions.

The Korea Development Bank stated in a press clarification on the same day, "There were no concrete discussions regarding the meeting between the top executives."

On that day, Chairman Lee and Chairman Chung met around 3 p.m. and exchanged opinions for about an hour on the agenda of HDC Hyundai Development Company's proposed acquisition of Asiana Airlines. This was the third time the two chairmen met to discuss the acquisition of Asiana Airlines.

Regarding this, one media outlet reported that Chairman Lee proposed opening the way for HDC Hyundai Development Company to acquire Asiana Airlines for about 1.5 trillion won, approximately 1 trillion won less than the original contract amount.

In response, the Korea Development Bank said, "There were no concrete discussions, and only the opinion that the creditors' group may consult with HDC Hyundai Development Company in the future was conveyed," and requested caution regarding the report.

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