Chairman Cho Won-tae Departs for US Business Trip on Asiana... Accelerating Chemical Integration

Business Trip to Los Angeles on Asiana Airlines
Personally Inspects In-Flight Services... Accelerating Chemical Integration
New Asiana Airlines Management to Be Appointed at Extraordinary Shareholders' Meeting on the 16th

Cho Won-tae, chairman of Hanjin Group, boarded an Asiana Airlines passenger plane for the first time to go on an overseas business trip. This is interpreted as an intention to pay more attention to the chemical integration of the two companies.

According to industry sources on the 14th, Chairman Cho boarded an Asiana Airlines passenger plane at Incheon International Airport on the 10th and departed for Los Angeles (LA), USA. This was the first time he took an Asiana Airlines flight for an overseas business trip since Korean Air completed its acquisition of Asiana Airlines in early December last year. A Korean Air official explained, "He decided to take Asiana Airlines directly," adding, "It is expected that he will use aircraft from both companies going forward."

By personally using Asiana Airlines' long-haul flights, Chairman Cho appears to be checking boarding procedures and in-flight services to oversee the chemical integration. Earlier, in his New Year's address this year, he also emphasized the foundation of harmony between the two companies and changes in service. Since the integration, Chairman Cho has visited various Asiana Airlines sites, starting with the maintenance, operations, cabin, and passenger service departments at Incheon International Airport Terminal 1. It is reported that by visiting the sites in person, encouraging employees, and communicating with them, he is focusing on the stable integration of the two companies.

Soon, Asiana Airlines' management will be officially replaced, and preparations for the launch of the integrated airline are expected to proceed in earnest. Asiana Airlines plans to hold an extraordinary general meeting of shareholders on the 16th to appoint Song Bo-young, head of Korean Air's Passenger Business Division (executive director), as the new CEO. On the same day, Jeong Byung-seop, managing director of Korean Air, and Kim Jung-ho, senior manager of Korean Air, will become the new CEOs of Air Busan and Air Seoul, respectively. An industry insider said, "Physical integration will take about two years, but from this year, the process of instilling Korean Air's DNA will begin in earnest," adding, "Korean Air's systems and procedures will gradually be transplanted to Asiana Airlines and its affiliates."

On November 29 last year, attendees including Cho Won-tae, Chairman of Hanjin Group (second from the right), are participating in the national ceremony at the opening ceremony of the 4th phase expansion facility of Terminal 2 (T2) at Incheon Airport's Terminal 2 on Yeongjongdo, Incheon. Photo by Jo Yong-jun