Hanjin Group Chairman Cho Won-tae said on the 18th, "There will be no price increase (after integration) in relation to Korean Air's acquisition of Asiana Airlines."
Chairman Cho attended the 32nd Korean-American Business Finance Meeting held at the National Federation of Businessmen in Yeouido in Seoul this morning, and met with reporters, saying, There is no such thing as an impression," he stressed.
Regarding the restructuring of workforce after integration, Chairman Cho said, "There is no restructuring plan," and "We will create an opportunity to embrace all employees and welcome them as a family.
He said, "I will do my best so that no one is left behind. I will meet (the union of both companies) as soon as possible and find a way to coexist."
Pointing out that it is not realistic to overcome the Corona 19 crisis without restructuring, "It is true that there are many overlaps such as routes and personnel when considering the scale of the two companies." If we expand our route map and expand our business, we can do it."
When asked about the plan to respond to the trilateral alliance against the acquisition of Asiana Airlines, he drew a line saying "no plan."
The activist private equity fund (PEF) KCGI, Bando E&C, and Cho Hyun-ah, former vice president of Korean Air, are confronting Chairman Cho over the management rights of Hanjin Group.
To the question that'there is a criticism that the Korea Development Bank's support is preferential,' he said, "I don't think that way," and "Saneun said that it could be done when I first asked her intention, and it was progressing after meeting several times and talking for a long time." .
Chairman Cho concluded an investment agreement with Saneun and said, "The Sangeun helped me a lot so that I could manage better than that."
He added, "There are some things Saneun helps, but there are standards that I have to meet," he added. "The expression was that way, but Saneun helped me a lot so that I could manage better than concrete ones."
Chairman Cho said, "I will find the most efficient and competitive way for LCC (low cost airlines)."
As to whether there is a plan to sell additional assets to repay Asiana Airlines' debt, he answered, "There is no such plan yet."
Chairman Cho said, "I think (solving family conflict) is a problem that needs to be solved in the future."
On that day, Chairman Cho received a plaque of service from the late Hanjin Group Chairman Yang-ho Cho at the Korean-American Financial Meeting.
The Korea-US Business Council awarded a plaque of merit in recognition of Chairman Yang-ho Cho's contribution to promoting friendship between the two countries.
Chairman Cho expressed his feelings, "It is more meaningful to remember his senior President Yang-ho Cho and acknowledge his contributions to the economic development of both countries."
(Photo = Yonhap News)