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[Alpha Biz=(Chicago) Reporter Paul Lee] Korean Air is known to have invested more than 100 billion won in legal expenses at home and abroad for two years to approve the corporate combination review by rival authorities, a prerequisite for the acquisition of Asiana Airlines.
The originally expected acquisition date has been delayed by nearly two years, adding to unnecessary cost burdens and missing timely investment, raising concerns over Asiana Airlines' weakening competitiveness.
Korean Air plans to launch an all-out war against rival authorities in the remaining three countries, the U.S., the European Union and Japan, with the aim of completing approval of the business combination in August.
According to related industries on the 10th, Korean Air has spent more than 100 billion won on domestic and foreign law firms and advisors in connection with the ongoing business combination review to acquire Asiana Airlines.
Since January 14, 2021, Korean Air has reported a business combination related to the acquisition of Asiana Airlines to rival authorities in 14 domestic and foreign countries, including the Korea Fair Trade Commission, the United States, the European Union (EU), Japan, and China. Currently, Korean Air only has approval from three competitors, the United States, the EU, and Japan.
Except for them, the competition authorities of the other 11 countries have closed the screening on the grounds that they have approved the business combination or are not subject to review or reporting.
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