Photo = T'way Airlines

 

 

[Alpha Biz= Kim Jisun] SEOUL, South Korea – June 11, 2025 — Daemyung Sono Group announced today that it has received approval from the Korea Fair Trade Commission (KFTC) for its proposed merger with T’way Air, securing full managerial control of the airline.



The approval follows a stock purchase agreement (SPA) signed in February, under which Sono International, a key affiliate of Daemyung Sono Group, acquired 52.34 million shares (46.26%) of T’way Holdings — the former largest shareholder of T’way Air — from Yerimdang Co. and its founding family for KRW 250 billion.



With regulatory clearance now granted, Daemyung Sono Group plans to integrate T’way Air into its broader portfolio, aiming to enhance the airline’s operational safety, strengthen its financial stability, and maximize synergies between the group’s core hospitality businesses — including hotels and resorts — and its newly expanded aviation operations.



As part of the next phase, the group will convene an extraordinary shareholders’ meeting on June 24, where it intends to appoint nine new board members with expertise across aviation, management, finance, and customer experience. These appointments will serve as the foundation for establishing a clear strategic direction for T’way Air and executing the group’s integration roadmap.

 

 

 

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