The Ministry of Land, Infrastructure and Transport said Thursday it had completed its review of Korean Air’s application to merge with its subsidiary Asiana under the Aviation Business Act.
The two airlines signed a merger agreement on May 14 and subsequently applied for government approval.
The ministry said it conducted a review comparable to that required for issuing a new airline license, drawing on advice from specialists in aviation, consumer protection, employment, law and accounting, as well as assessments by research institutes and accounting firms.
It concluded that the merger met the relevant legal requirements and granted approval following a final licensing advisory meeting.
The approval, however, came with conditions aimed at safeguarding aviation safety and passenger convenience.
The ministry said it would regularly monitor whether Korean Air carries out the plans submitted during the review process.
The integration process began in November 2020, when state-run Korea Development Bank decided to sell Asiana to Korean Air.
By December 2024, the deal had received approval from competition authorities in 13 jurisdictions, including the United States, the European Union and Japan, as well as South Korea’s Fair Trade Commission.
Korean Air plans to complete the legal merger and formally launch the integrated carrier on Dec. 17.
“The merger of the country’s two largest full-service carriers will have a significant impact on the broader aviation market,” said Lee So-young, director general for aviation policy at the ministry.
Lee also urged Korean Air to fulfill its social responsibilities as South Korea’s leading flag carrier, beyond merely complying with government regulation and oversight.
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