Korean Air Acquires Additional $934.3 Billion Worth of Shares in U.S. Subsidiary

Korean Air announced on the 20th that it will additionally acquire 400 million shares of its U.S. hotel and building rental business affiliate, Hanjin International, for approximately 934.3 billion KRW.

After the acquisition, the shareholding ratio will be 100%. The scheduled date for the stock acquisition is the 28th. Korean Air stated that the purpose of this stock acquisition is "participation in a rights offering."