KDB chief confident about Korean Air's acquisition of Asiana

Korean Development Bank (KDB) Chairman Kang Seog-hoon expressed confidence over Korean Air's acquisition of Asiana Airlines, Tuesday, stressing that he does not consider a "Plan B," in preparation for failure, at all necessary. "We expect the merger to be concluded during the third quarter of this year," Kang said during a press conference marking the first anniversary of his term. "This is not the time to prepare for failure. This is the time to put in all of our effort." Speaking to reporters at its headquarters in Yeouido, Seoul, Kang noted that the acquisition has been his main focus since Hanwha Group took over Daewoo Shipbuilding & Marine Engineering (DSME) this year. His efforts have included meetings with the European Union's authorities in January and the U.S. Department of Justice (DOJ) in May. So far, the acquisition has obtained approval from 10 countries and is currently awaiting approval from the U.S., the European Union and Japan, according to the bank. Kang then highlighted KDB's achievements under his leadership during the past year. <br/>