Saneun Launches 'Management Evaluation Committee' to Oversee Korean Air's Sound Management Practices

Implementation of the Integration Plan for the Two Major Airlines and Oversight Role of Korean Air's Sound Management

[Asia Economy Reporter Park Sun-mi] Korean Air has completed the establishment of the 'Post-Merger Integration (PMI) Strategy' for Asiana Airlines, and on the 17th, the Korea Development Bank also held an inauguration ceremony for the ‘Management Evaluation Committee’ involving external experts.

The Korea Development Bank appointed employees from creditor financial institutions as well as external experts in accounting, economics, management, and the aviation industry as members of the ‘Management Evaluation Committee’ to ensure fairness and objectivity in management evaluation. The ‘Management Evaluation Committee’ is responsible for facilitating the smooth integration of the two major airlines and promoting sound management of Korean Air through evaluating the implementation of Korean Air’s PMI plan and overall management.

Hanjin KAL and Korean Air plan to submit the PMI plan to the Korea Development Bank by this day, and after the bank’s confirmation, finalize it later. The ‘Management Evaluation Committee’ will assign management evaluation targets in the first half of the year, reflecting the finalized PMI plan and Korean Air’s business plan.

A Korea Development Bank official stated, "Through the ‘Management Evaluation Committee,’ we will annually evaluate the integration work of the two companies and Korean Air’s management performance. If the evaluation rating is poor, measures such as replacement or dismissal of executives will be taken to monitor sound management and strengthen competitiveness of Korean Air and the integrated airline."

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