Korean Air will be incorporated into Asiana's subsidiary on the 11th.We will advance the acquisition of new shares.

Korean Air will incorporate Asiana Airlines as a subsidiary on the 11th.

In this regard, Korean Air announced that it will advance the closing date of the new stock acquisition contract from the previous 20th to the 11th.

Korean Air plans to invest 1.5 trillion won in Asiana Airlines' third-party capital increase on the 11th to acquire about 131.57 million new shares and a 63.9% stake.

In addition to the total of 700 billion won in down payments and intermediate payments already paid, the company plans to invest an additional 800 billion won in the balance, and when the balance payment is completed, Korean Air will become the largest shareholder of Asiana Airlines and Asiana Airlines will become a subsidiary of Korean Air.

It has been four years and a month since Korean Air announced its bid to acquire Asiana Airlines in November 2020.

Asiana Airlines will operate as an independent company over the next two years, and will be launched as an integrated Korean Air after 2027 after relocating its workforce and arranging redundant routes.