Chairman Cho Won-tae of Hanjin Group laid out this year’s management vision for Korean Air to be a mega carrier in the global aviation market.
Chmn. Kim made the remarks at the 63rd general meeting of shareholders at Korean Air headquarters in Gangseo-gu, Seoul, on March 26.
“As Korea Air incorporated Asiana Airlines as its subsidiary last December, a journey for inaugurating of a merger carrier has begun in full swing, and we will gain more profit by competing squarely in the global aviation market,” he said.
Chmn. Cho, speaking about the “KE Way,” the newly declared corporate value system, and the vision ”Carrier Beloved Most in the World,” stressed, “a carrier creating a better world by connecting the whole world beyond Korea.”
As safety issues have emerged as a subject of keen attention in the aviation sector, Chmn. Cho urged his executives and staff members to be reminded of the values of “absolute safety” by learning lessons of aircraft accidents that took place in Korea and abroad and he promised to realize customer-oriented services.
In 2024, Korean Air launched new passenger flights to Macao, Lisbon and Taichung, Taiwan and introduced high-efficiency, eco-friendly aircraft, such as B787-10 and A350-900 to prepare for future demand.
Korea Air saw 2024 passenger volumes surge by 13 percent compared to the previous year, and freight revenues improve on the back of rising demand of e-Commerce transactions.
These accomplishments led to the best-ever business performance of Korea Air.
The carrier saw sales come to 16,116.6 billion won,the best-ever, and operating profit amount to 1,903.4 billion won, the second best ever.
Chmn. Cho said Korean Air was evaluated positively in the global market.
The Australian aviation journal “Airline Ratings” selected Korean Air as the “Carrier of the Year” in 2025 and Customer satisfaction surveys in Korea and abroad showed Korean Air was No. 1 among airliners.
Chmn. Cho revealed his determination to raise shareholder value. “We will maximize shareholders’ values and Korean Air will be an airliner which share outcomes among stakeholders,” he said.
Chmn. Cho did not attend the shareholders’ meeting. Korean Air President Woo Ki-hong delivered a speech on behalf of Chmn. Cho.
Vice Chairman Woo Ki-hong of Korean Air speaks on behalf of Chairman Cho Won-tae of Hanjin Group at the 63rd General Meeting of Shareholders at Korean Air headquarters on March 26. (Photos: Korean Air)
Chmn. Cho said the aviation industry is in “growth mode” after overcoming the shock caused by the Covid-19 pandemic, with the passenger market maintaining steady growth in supply and demand and the freight market seeing demand changing from declining demand to rising one.
But as for the international and Korean aviation environment conditions, he said the 2025 management environment is mixed with opportunities in a crisis.
He cited negative factors, such as a delay in introduction of aircraft related to the global supply chains and higher currency exchange rates as well as risks, cause by U.S. tariffs.
During the session, Korea Air approved four proposals, including the appointment of an outside director.
Prof. Song Jae-yong of Seoul National University College of Business Administration was elected as an outside director of the board of directors at Korean Air.
Korean Air said Prof. Song, who has profound experience and expertise in overall management, such as international management and competition/innovation strategies, will contribute to realizing the goal of becoming a leader in the global aviation industry.
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