KOREAN AIR SEES KAI ACQUISITION AS VITAL FOR NATION
Korean Air believes its proposed takeover of Korea Aerospace Industries (KAI) could lift the nation into the top-tier of aircraft manufacturers, challenging claims the company is not of the caliber necessary to upgrade Korea’s aerospace industry.
The affiliate of logistics giant Hanjin Group is awaiting the second round of the bidding to acquire 41.75 percent share of KAI after its initial bid was nullified due to a lack of competitors.
The law states there must be at least two bidders, but Korean Air was the only participant.
16/09/2012 : Korean Joongang Daily.
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