The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    SHINee celebrates 15th anniversary of debut: 'It feels surreal'

  • 3

    Hybe's new boy group Boynextdoor aims to be 'one and only' presence in K-pop

  • 5

    Seoul city erroneously sends emergency alert after NK launch

  • 7

    Memorial Day 2023

  • 9

    Brave Girls to restart activities under new name

  • 11

    Japanese destroyer flies controversial flag as it arrives in Korea for joint drill

  • 13

    ANALYSISChina's ban on Micron tests Washington-Seoul alliance

  • 15

    Korea's diplomacy put to test amid signs of thaw in US-China relations

  • 17

    Local governments appeal to young generations through YouTube

  • 19

    Korea to ease immigration rules to attract more medical tourists

  • 2

    Seoul on alert over Pyongyang's imminent spy satellite launch

  • 4

    ENHYPEN reaches new career high with latest album 'Dark Blood'

  • 6

    Korea's household debt-to-GDP ratio highest among 34 major economies

  • 8

    Korea eyes launch of 4th Nuri space rocket in 2025

  • 10

    Vietnam emerges as major market for Korean chipmakers

  • 12

    Purported N. Korean 'space launch vehicle' falls into Yellow Sea after 'abnormal' flight: S. Korean military

  • 14

    Rapper Mino attends sister's wedding in U.S. amid military service

  • 16

    Top 20% of income earners fuel increase in Q1 consumption as pandemic ends

  • 18

    'Transformers: Rise of the Beasts' raises bar with epic battle scenes

  • 20

    Police brace for massive union protest

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Wed, May 31, 2023 | 11:38
Companies
Asiana Airlines sues Gategroup
Posted : 2022-05-02 16:47
Updated : 2022-05-02 18:57
Park Jae-hyuk
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Former Kumho Asiana Group Chairman Park Sam-koo appears at Seoul Central District Court in this March 14 file photo. Yonhap
Former Kumho Asiana Group Chairman Park Sam-koo appears at Seoul Central District Court in this March 14 file photo. Yonhap

By Park Jae-hyuk

Asiana Airlines has filed a complaint with the prosecution against Gategroup for allegedly colluding with former Kumho Asiana Group Chairman Park Sam-koo, while filing a civil lawsuit to nullify its 30-year in-flight meal contract with the Swiss catering service provider, according to industry officials, Monday.

Former Kumho Asiana Group Chairman Park Sam-koo appears at Seoul Central District Court in this March 14 file photo. Yonhap
Asiana Airlines CEO Jung Sung-kwon
The series of legal actions are viewed as part of Asiana's efforts to minimize potential damage to Korean Air, which has been pushing ahead with its acquisition of the nation's second-largest air carrier.

Asiana confirmed that the criminal and civil suits had been filed in March and January, respectively, although it declined to comment on the ongoing litigations.

The carrier reportedly suspects Gategroup's former Chairman Xavier Rossinyol, former Asia-Pacific President Jann Fisch and two other top executives had colluded with Park, when he allowed the Swiss company to pay only 133.3 billion won ($105 million) in 2016 for the exclusive right to serve its in-flight meals on Asiana's planes until 2047.

At that time, the exclusive right was estimated to be worth around 500 billion won.

Park has been on trial for the allegation of asking Gategroup to acquire 160 billion won worth of bonds with warrants for cash-strapped Kumho Buslines, in exchange for securing the exclusive right to serve in-flight meals.

Depending on his sentencing next month, Asiana is expected to make further efforts to nullify its contract with Gategroup.

Unless the contract is voided, Asiana will have to guarantee Gategroup a certain amount of profits by 2047, which could cost the air carrier at least 250 billion won, leading to a significant financial burden for Korean Air.

Korean Air is awaiting approvals from international antitrust regulators for its acquisition of Asiana, as the Korea Fair Trade Commission gave its conditional approval for the plan in February.


Emailpjh@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Korea to ease immigration rules to attract more medical tourists Korea to ease immigration rules to attract more medical tourists
2Big businesses face growing union pressure to extend retirement age Big businesses face growing union pressure to extend retirement age
3Running convenience stores becomes popular among people in 20s, 30s Running convenience stores becomes popular among people in 20s, 30s
4Anti-corruption watchdog set to investigate crypto assets of lawmakers Anti-corruption watchdog set to investigate crypto assets of lawmakers
5Naver suffers shrinking online search market share Naver suffers shrinking online search market share
6Sluggish exports behind weak Korean won Sluggish exports behind weak Korean won
7Seoul resident clashes with authorities for raising dogs to nab 'North Korean spies'Seoul resident clashes with authorities for raising dogs to nab 'North Korean spies'
8Pyongyang may have delayed spy satellite launch due to technical issues Pyongyang may have delayed spy satellite launch due to technical issues
9Doctors, pharmacists to receive 30% bonus for offering telemedicine service Doctors, pharmacists to receive 30% bonus for offering telemedicine service
10HanmiGlobal to monitor building of 80,000 houses for Neom construction workers HanmiGlobal to monitor building of 80,000 houses for Neom construction workers
Top 5 Entertainment News
1'Elemental' director on bringing his personal story of immigration to cinema 'Elemental' director on bringing his personal story of immigration to cinema
2SHINee celebrates 15th anniversary of debut: 'It feels surreal' SHINee celebrates 15th anniversary of debut: 'It feels surreal'
3ENHYPEN reaches new career high with latest album 'Dark Blood' ENHYPEN reaches new career high with latest album 'Dark Blood'
4'Transformers: Rise of the Beasts' raises bar with epic battle scenes 'Transformers: Rise of the Beasts' raises bar with epic battle scenes
5[INTERVIEW] Long-awaited extension of Korean Pavilion at Venice Biennale to be pushed forward INTERVIEWLong-awaited extension of Korean Pavilion at Venice Biennale to be pushed forward
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group