[New Year's Message] Cho Won-tae: "Complete Asiana Airlines Merger Within the Year... Merger as a Long-Term Growth Engine"

Cho Won-tae, Chairman of Hanjin Group, expressed his determination to complete the merger process with Asiana Airlines within this year. At the same time, he emphasized the positive effects of the merger, stating that the launch of the integrated airline will become another growth engine for Hanjin Group.

On the 2nd, Chairman Cho said in his New Year's address, "The launch of the integrated airline will be a huge growth engine for us in the long term," adding, "By achieving economies of scale through the acquisition, schedules can be rationally rearranged, and spare aircraft can be deployed to new destinations."

Ahead of the launch of the integrated airline, Chairman Cho urged all executives and employees to unite their efforts to faithfully adhere to the basics of safe operation and customer-centered service while successfully completing the tasks related to the acquisition of Asiana.

In recent years, the COVID-19 pandemic caused a sharp decline in overseas travelers, leading to difficulties for the domestic and international aviation and logistics industries, including Hanjin Group. Furthermore, global uncertainties are at their peak due to geopolitical risks from conflicts around the world, economic recession, and prolonged inflation.

Chairman Cho Won-tae of Hanjin Group [Photo by Hanjin Group]

To respond flexibly to the crisis, Chairman Cho urged to "Back to the Basics." He said, "In a time when everyone is calling for innovation, the phrase 'back to the basics' may sound strange, but innovation without a solid foundation is like a castle built on sand. We must steadily cultivate what we have done best and can do well."

He also pointed out 'absolute safe operation' and 'customer-centered service' as important tasks. Chairman Cho stated, "Safety is the most fundamental condition customers consider when choosing an airline," and added, "All activities of Korean Air are possible only under the premise of absolute safety." He continued, "I ask all executives and employees to do their best in their respective positions so that Korean Air can establish itself as the safest airline in the world and provide the best service through customer-centered management."

Lastly, Chairman Cho emphasized the importance of human interaction, which was interrupted by the COVID-19 pandemic. He said, "COVID-19 temporarily caused a break in global human exchanges, but it left the meaning that the most important thing is 'people.' I hope the company never forgets that at the center of everything are 'people,' that is, all of you, the executives and employees."