South Korea's Transport Ministry Approves Korean Air-Asiana Airlines Merger

Korean Air initially signed a deal to acquire a controlling stake in Asiana Airlines in November 2020, with the goal of establishing the world's 10th-largest airline based on fleet size. Asiana Airlines has been operating as a subsidiary of Korean Air since the agreement.

The transport ministry's advisory panel, comprising experts in aviation, law, and accounting, conducted a comprehensive review of the application and determined that the merger meets the necessary legal requirements. However, the approval comes with stipulations that Korean Air must guarantee aviation safety and consumer convenience throughout the integration process.

A ministry official stated that the government will closely monitor the integration to ensure that aviation safety and consumer interests are not compromised, acknowledging the significant impact the merger of the country's two largest carriers will have on the broader aviation market.