SOUTH KOREA. Korean Air has received approval from the Ministry of Land, Infrastructure and Transport to merge with Asiana Airlines, bringing the long-awaited integration a step closer to its planned launch on 17 December.
As announced by the ministry on 25 June, the decision was made after Korean Air and Asiana Airlines applied for approval, following their merger agreement signed in May.
The merger has received approvals from the Fair Trade Commission and 13 foreign competition authorities, among them the United States, the European Union and Japan, as well as the Fair Trade Commission in December 2024, completing Korean Air’s acquisition process of Asiana Airlines.
As reported, the two airlines announced their merger plans in November 2020 in a bid to “restructure the Korean aviation market” following the impact of the COVID-19 crisis.
The combined airline is expected to rank among the world’s top ten by passenger capacity.
Given the size of the merger, the Ministry of Land, Infrastructure and Transport conducted a comprehensive review under the Aviation Business Act. This involved consultations with an expert advisory group and independent assessments by research institutes and accounting firms, before granting approval.
The ministry said the merger approval requires Korean Air to strengthen operational safety and consumer convenience.
Ministry of Land, Infrastructure and Transport Aviation Policy Director Lee So-young said: “As the merger involves South Korea’s two largest full-service airlines, with significant implications for the country’s aviation market, the Ministry of Land, Infrastructure and Transport will exercise strict oversight to ensure that aviation safety and consumer convenience are not compromised.”
Lee underscored Korean Air’s responsibility as the nation’s flagship carrier, adding: “Beyond government regulation and oversight, we expect you, as the number one flag carrier representing the Republic of Korea, to fulfil your social responsibility commensurate with your stature.” ✈
