Korean Air Annual General Meeting... "Introducing In-flight Wi-Fi and Raising Director Limits"

Korean Air will introduce in-flight Wi-Fi service in the first half of this year. Along with this, the total director remuneration limit was increased from 5 billion KRW to 9 billion KRW.

Korean Air held the 61st Annual General Meeting of Shareholders at its headquarters in Gangseo-gu, Seoul on the 22nd. The agenda to amend the articles of incorporation for operating in-flight internet service was approved. The business purpose in the articles of incorporation was also expanded to include telecommunications business.

Korean Air plans to provide Wi-Fi service on the A321neo and B737-8 aircraft scheduled for introduction this year. Jin Air also held its shareholders meeting on the same day. It made the same amendment to its articles of incorporation as Korean Air and is preparing to provide in-flight Wi-Fi service.

At the shareholders meeting, Korean Air reappointed President Woo Ki-hong as an inside director. Vice President Yoo Jong-seok, Head of Safety and Health, was newly appointed as an inside director. Outside directors Jeong Gap-young and Park Hyun-joo were also reappointed.

Korean Air also approved the agenda to increase the total director remuneration limit from the existing 5 billion KRW to 9 billion KRW.

At the meeting, Chairman Cho’s greeting was read by President Woo Ki-hong. Cho Won-tae, Chairman of Korean Air, said, "It has been three years since the outbreak of COVID-19, and it is fortunate that we are now regaining our former state," adding, "We are carefully inspecting safety and service vulnerabilities."

He continued, "We are making our best efforts to complete the corporate merger review approval of Asiana Airlines in the three countries of the United States, the European Union (EU), and Japan," and explained, "We are thoroughly preparing to achieve a successful integration as soon as the approval process is completed."

Korean Air’s parent company, Hanjin KAL, also held its shareholders meeting at the Hanjin Building in Jung-gu, Seoul, on the same morning. At the meeting, Hanjin KAL reappointed Chairman Cho as an inside director.

Hanjin KAL also decided to pay dividends of 170 KRW per common share and 195 KRW per preferred share. In a greeting read by Ryu Kyung-pyo, CEO of Hanjin KAL, Chairman Cho said, "We will continue to strive for governance improvement at the group level and plan to publish the first Hanjin KAL ESG (Environment, Social, Governance) report this year."