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An Asiana A380 in Seoul (Photo: AirlineGeeks | Ben Suskind)

Aviation-Centered Mergers and Acquisition in South Korea Slow to a Halt

With COVID-19 raging throughout the world, the aviation industry has experienced its longest battle in decades. In South Korea, mergers and acquisitions have halted since the pandemic began, a development that has proven particularly impactful for the aviation industry and those looking to take part in it. HDC Hyundai Development Company (HDC) inked a deal to acquire a nearly 31% stake in Asiana Airlines from Kumho Asiana Group in December, a transaction that was expected to complete by Jun 27.…

Korean Carriers Seek Financial Support from Government

With the coronavirus pandemic raging through the world, the aviation industry is facing unprecedented times. South Korea, one of the hotspot outside China in Asia, could experience a nightmare scenario. The Korea Civil Aviation Association (KCA) demanded the government offer a bailout package to airlines amid the unparalleled crisis.  KCA…

Jeju Air Suspends Eastar Jet Purchase

Jeju Air, the largest budget carrier in South Korea, suspended its purchase of Eastar Jet, another low-cost carrier in Korea, due to the latest financial situation. According to Korean local media, Seok-Joo Lee, Chief Executive of Jeju Air stated if the current condition doesn’t improve, the industry leader would have…

Chaebol Conquest: A Look at Korean Aviation

While many western companies have seen the rise of corporate conglomerates since the 1990s, the South Korean market has had a long history of Korean conglomerates, which are locally called chaebols, dominating the market. As to be expected, the aviation industry is no stranger to chaebols, with the top three…