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The Sale of Asiana Failed... KDB Begins Normalization Through ‘2 Trillion Won in a State-Run Fund’

NSP NEWS AGENCY, By soon ki Lee Journali, 2020-09-12 09:04 END7
#Asiana #HDC #KDB #Sale Failure

(Seoul=NSP News Agency) soon ki Lee Journalist = The acquisition of Asiana by HDC Hyundai Development Co. (hereinafter referred to as HDC) was canceled, and Asiana Airlines is again under creditor management after six years.

Choi Dae-hyun, vice president of the corporate finance division of the KDB, said in an online briefing on major issues that the acquisition of Asiana Airlines by HDC has failed.

Accordingly, Asiana Airlines plans to receive financial support of 2.4 trillion won through the Basic Industrial Stability Fund(hereinafter referred to as the BISF), and prepare and implement measures to improve corporate value.


With the sale canceled, HDC is expected to seek to recover the deposit of 250 billion won already paid through a lawsuit for returning the contract performance deposit.

“Though I cannot reveal the details of the discussion, the creditors presented a plan to share losses due to Corona 19,” said Choi Dae-hyun, vice president, “HDC has not changed its existing position and demands for a long-term re-inspection as before.”

Regarding the restructuring, BISF of about 2 trillion won will be invested, and the company is continuing its self-rescue efforts through rotational work, the return and reduction of executive salaries, and so on. Therefore “It doesn’t seem urgent,” he said. “We will consider it later depending on the timing and method.”

NSP News Agency soon ki Lee Journalist
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