Woo Ki-hong, President of Korean Air, "Job Security Is the Top Priority in the Acquisition Process"

Turning Crisis into Opportunity: "Creating a Chance to Strengthen Competitiveness through Domestic Aviation Industry Restructuring"

Woo Ki-hong, President of Korean Air, is reviewing materials at the airline industry CEO meeting held on the 29th at the Korea Airports Corporation conference room in Gangseo-gu, Seoul. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Yu Je-hoon] Woo Ki-hong, CEO of Korean Air, said on the 16th regarding the acquisition of Asiana Airlines, "In the acquisition process that is about to begin, we will prioritize job security above all else and focus our capabilities on this goal."

In a statement sent to employees on the same day, CEO Woo said, "The road ahead will not be easy, but we have the experience and resilience to overcome numerous difficulties."

Regarding the sudden announcement of the acquisition, CEO Woo asked for understanding, saying, "The acquisition decision involves the interests of not only Korean Air but also several other institutions, so strict confidentiality was necessary." He added, "At a time when the foundation of South Korea's aviation industry could have been shaken by the novel coronavirus disease (COVID-19), this is an opportunity to strengthen competitiveness through restructuring the domestic aviation industry."

He continued, "Through this acquisition, Korean Air will establish a foundation to leap into the top 10 global airlines, standing shoulder to shoulder with major global mega airlines in key indicators such as route networks, aircraft, and supply scale." He explained, "I believe that if we unite our hearts and work together, we will soon become a truly world-class airline."

CEO Woo also emphasized that job security will be the top priority, stating, "We will carefully oversee every step of the acquisition process to ensure that employees do not feel any discomfort during the various procedures."

Furthermore, CEO Woo said, "Korean Air, which has grown with the love of the people for the past 51 years, is now taking a historic step forward to become a global top airline with a new image." He concluded, "Let us build a Korean Air that contributes to the nation and repays the people with even greater love."

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