Jowon Tae: "Decision to Minimize Public Fund Injection... Will Protect Workplaces of Both Companies"

"Apology for Causing Concern to the Public Due to Past Unfortunate Incidents"

[Asia Economy Reporter Yoo Je-hoon] Cho Won-tae, Chairman of Hanjin Group, said on the 16th regarding the decision to acquire Asiana Airlines, "This decision was made to sustainably grow South Korea's aviation industry and to reduce the burden on the public by minimizing the injection of public funds," adding, "We will prioritize protecting the valuable workplaces of employees from both companies and focus all our capabilities on this."

Chairman Cho released a statement addressed to the public on the same day, stating, "As a leading airline in South Korea, we will faithfully fulfill our role in the domestic aviation industry's leap forward and repay the public."

He said, "There were many concerns and burdens before deciding on the acquisition," but added, "I believed that faithfully carrying out the group's founding philosophy of contributing to the nation through transportation is the historical mission given to us."

Chairman Cho continued, "We will ensure that employees of both companies enjoy all treatments and welfare equally without discrimination," and said, "Furthermore, based on the principles of ethical management, responsible management, and transparent management, we will do our best to enhance customer and shareholder value, while improving consumer benefits through rational operations."

In particular, Chairman Cho seemed conscious of the controversies surrounding the Hanjin family over the past several years, stating, "On behalf of my family, I deeply apologize for causing concern to the public due to unfortunate incidents," and emphasized, "We will do our utmost in this integration process and overcoming the COVID-19 crisis to repay the public's interest and support."

Chairman Cho also stated, "Based on these efforts, we will leap to become a top 10 global airline, further elevate South Korea's status, and contribute to the national economy's development," and added, "We ask for your continued support and cooperation."

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