Korean Air needs to address monopoly concerns over merger with Asiana: minister

Korean Air needs to address global antitrust regulators' monopoly concerns over the South Korean national flag carrier's planned merger with its smaller domestic rival Asiana Airlines, the transport minister has said. In 2021, Korean Air submitted documents to antitrust regulators in 14 countries for the review of its integration with Asiana Airlines. The company has received approval from 11 countries, including Britain, Australia, Singapore, Vietnam, Turkey and China, and is awaiting a decision from Japan, the United States and the European Union. Last month, the EC informed Korean Air of its preliminary review, in which it stated that its proposed acquisition of Asiana may restrict competition in the markets for passenger and cargo air transport services between the EU and South Korea. A US report said the Department of Justice was considering suing to block the two carriers' combination due to the same competition reasons. Korean Air said the DOJ has not made any official decision on the combination. "To help global regulators wrap up their reviews of the planned merger as quickly as possible, Korean Air needs to responsibly come up with measures to resolve the (regulators') monopoly worries," Land, Infrastructure and Transport Minister Won Hee-ryong said in an interview with Yonhap News Agency on Friday. On the government side, it has explained its efforts to prevent merged companies from wielding monopoly power in the markets to overseas regulators, the minister said.<br/>