Chairman Cho Won-tae: "The COVID-19 Crisis Must Be Turned into an Opportunity for Innovation"

Korean Air 52nd Anniversary Commemorative Address

Cho Won-tae, Chairman of Hanjin Group

[Asia Economy Reporter Dongwoo Lee] Cho Won-tae, Chairman of Hanjin Group, expressed his determination for proactive change by turning the COVID-19 crisis into an opportunity for innovation on the occasion of Korean Air's 52nd anniversary.

On the 2nd, Chairman Cho stated in a commemorative message posted on the company intranet, "Let us take the COVID-19 crisis as an opportunity for 'innovation' and fundamentally transform Korean Air's constitution."

Chairman Cho said, "All Korean Air employees responded to the worst situation with their best efforts," adding, "We have clearly demonstrated our strength and capabilities to the world." He also expressed gratitude, saying, "I am always deeply thankful to our employees who are dedicating themselves in every field without hesitation."

He emphasized that overcoming the crisis requires turning difficulties into opportunities. Chairman Cho said, "The COVID-19 pandemic has brought painful circumstances to us, but on the other hand, it has also provided a chance for us to change. It may seem strange to talk about innovation at a time when survival seems precarious, but paradoxically, that is why innovation is more urgent than ever."

Chairman Cho stressed, "COVID-19 has changed the season of business, and we can no longer adapt and respond to the new business season with the old clothes. Innovation is about making and wearing clothes suitable for the new business season called the With-COVID era."

He added, "I hope all Korean Air employees will design and create these clothes together," and expressed his determination for innovation, saying, "If we put our heads together, communicate, and unite our strength, I believe we can create Korean Air's unique attire that can adapt well to the new business season."

To this end, Chairman Cho appealed to seek and practice active changes in organization, work methods, and communication culture. He emphasized, "Let us transform into an organization full of creativity and dynamism, a work method that focuses on core areas based on flexibility, and a communication culture that respects diversity among members and shares transparently."

Chairman Cho said, "I will practice innovation myself so that we can become a company that soars higher than anyone else in the changed world after COVID-19," and added, "On that foundation, I hope we can successfully acquire Asiana Airlines and concentrate all our capabilities to fly higher together."

He also stressed, "As the two companies become one to form a larger organization, let us do our best with a greater sense of mission to contribute to the Korean aviation industry."

In conclusion, Chairman Cho said, "I sincerely hope that our efforts and patience will soon bear sweet fruit, and that we can share that fruit abundantly with all employees," and ended with, "Let us all look forward to that day coming soon and move forward with just a little more strength."

Meanwhile, Korean Air did not hold a separate anniversary ceremony to prevent the spread of COVID-19.