Korean Air Confirms New Share Issue Price at 14,200 KRW for 10 Trillion KRW Capital Increase

[Asia Economy Reporter Yoo Byung-don] Korean Air announced on the 7th that the issuance price of new shares for the rights offering has been set at 14,200 KRW.

Korean Air decided on a rights offering worth trillions of won for the first time in history to overcome the liquidity crisis caused by the COVID-19 pandemic. This is the largest capital increase among domestic companies this year.

The number of newly issued shares through this rights offering is 79,365,079 shares, which corresponds to 82.7% of the current outstanding shares (95,955,391 shares). The total amount of funds raised, based on the issuance price of the new shares, is approximately 1.12698 trillion KRW.