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Girl in motion
Korea Development Bank President Lee Dong-geol said: “It is not a special benefit for chaebol, but rather preferential treatment for the aviation industry and preferential treatment to protect labor.” Regarding KCGI CEO Kang Seong-bu, who had had a management dispute with Hanjin Group management, he said: “We cannot be the subject of negotiations.”
“The never-ending story of Hanjin’s management rights dispute
If you wait when it’s over, the aviation industry is ruined
There are no negotiations with the trilateral alliance without management rights “
Chairman Lee Dong-geol held an online press conference on the afternoon of the 19th and directly explained the so-called “preferential theory of Hanjin Group Chairman Cho Won-tae.” President Lee said: “We have no choice but to negotiate with the person who insures and exercises management rights.” “The tripartite alliance, including CEO Sung-bu Kang (who has had a management rights dispute with Hanjin Group management) cannot be negotiated,” I said.
KCGI has argued that KCGI’s plan to sell Asiana Airlines is “a privilege that grants all management rights to Chairman Cho Won-tae, who provides only 6% of the shares to the Korea Development Bank as collateral.” Regarding this, Chairman Lee said, “CEO Kang Seong-bu is the representative of a private equity fund and his own money is 0 won.”
Regarding the question of why Hanjin Kal is putting his stake in Hanjin Kal, which is in dispute over management rights, President Lee said: “The dispute over Hanjin Kal’s management rights is a never ending story. As a bank, I avoided responsibility. ”
Regarding the controversy that the KDB nationalizes the aviation industry, he said, “Saneun has only a 10% stake.” “The KDB plays a role in monitoring the good management of the management, and there is no intention to interfere with the management and there is no reason.” I drew a line.
Regarding the controversy over the restructuring of the workforce, he said: “Please trust his promise.” “If we receive a promise to retain management employment and we violate this provision, current management would be penalized for violating obligations.” President Lee, however, suggested that some adjustments, such as dispatching or relocating staff, are unavoidable in the process of arranging overlapping routes.
President Lee said he took the failure of the shipping industry restructuring as a lesson. It means that they made efforts not to repeat the failure of the policy that caused the bankruptcy of Hanjin Shipping according to financial logic.
KDB also revealed that it has signed the ‘7 mandatory provisions’ with the Hanjin Group management. Vice President Choi Sang-hyun said: “We have prepared a verification system to ensure the follow-up of the strong ethical management of affiliated stocks and the strong ethical management of Hanjin Kal and the seamless implementation of post-acquisition integration (PMI). “. It ensured the right to voluntarily dispose of the new Korean Air shares to purchase as collateral when necessary. ”
Reporter Jeong Yonghwan [email protected]
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