[Alpha Biz=(Chicago) Reporter Paul Lee] Korean Air will buy GS Retail's own shares worth 30 billion won. Korean Air and GS Retail, which have 1.25 million new GS Retail shares, have decided to continue their strategic collaboration in the future.

GS Retail announced on the 2nd that it will sell 1,258,231 shares of its own shares to Korean Air. The estimated disposal amount is 30 billion won.

Korean Air bought a stake in GS Retail to strengthen strategic cooperation between the two companies. "It is part of cooperation using our air transportation business capabilities and GS Retail's customer platform," a Korean Air official said. "We are considering various measures such as △ customer convenience and service improvement △ joint marketing to enhance brand awareness and plan to pursue strategic business agreements in the future."

Hanjin Group and GS Group are also expanding cooperation in bio aviation oil (SAF). Korean Air is also working with GS Caltex to prepare for bio-air oil demonstration research.

 

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