Airliner decides to aggressively implement management development strategies in accordance with ‘Vision 2023’
A view of a ceremony to celebrate the 50th anniversary at the Korean Air headquarters in Gonghang-dong, Seoul, on March 4.
Korean Air President Cho Won-tae joins Korean Air representatives at an event to cut a cake in celebration of the 50th anniversary. (Photos: Korean Air)
Korea Air held a ceremony to celebrate the 50th anniversary at the Korean Air headquarters in Gonghang-dong, Seoul, on March 4 in which roughly 1,500 executives and staffers pledged to make a leap forward for a new centennial.
It was on March 1, 1969 that Korean Air made its debut as a small airliner with a fleet of eight aircraft. Korean Air has risen to a global airliner, flying to 124 cities in 44 countries, by aggressively exploring new flight routes, service innovation, and endless change and investments.
In his speech at the anniversary event, Korean Air President Cho Won-tae said, “For the past 50 years, the two wings of Korean Air became customers and shareholders’ love and public trust.” He expressed hope that “our serving as the wings so that all members of society can dream of better lives will be what Korea Air will make together with us for the next 100 years.”
Korean Air has decided to aggressively implement management development strategies in accordance with “Vision 2023,” calling for sustainable growth, improving financial conditions, management transparency, and the strengthening of shareholder-friendly policies to enhance its corporate values and make a leap forward in the next 100 years.
Korean Air was launched after founder and late chairman Cho Joong-hoon acquired Korean National Airlines, predecessor of Korean Air, in 1969. The airliner has since played a pivotal role in the economic development of the nation by flying over five oceans and six continents for half a century.
Korean Air, which opened flight routes in the Pacific, Europe and the Middle East in the 1970s in succession, served as driving force behind the development of the Korean industries.
Korean Air became the official airliner of the 1980 Seoul Summer Olympics, an opportunity to make Korea known to the world, which contributed to enhancing the airliner’s global standing.
The period between 1990 and 2000 was a time when Korean Air achieved a brilliant development under the stewardship of Korean Air Chairman Cho Yang-ho, who controlled management of the airliner.
Cho served as Korean Air president in 1992 and rose to Korean Air chairman in 1999 before he took office as chairman of Hanjin Group in 2003.
In the 1990s, Korean Air opened flight routes to Beijing and Moscow, allowing the national flag, Taegukki to unfurl on those tightly closed lands. In the 2000s, Chairman Cho spearheaded the establishment of the international airline alliance SkyTeam in keeping with the then flight trend, based on his wide and considerable insight. Korean Air offered Korean guidance services to the world’s top three museums – the Louvre of France, the Hermitage Museum in Russia and the British Museum, instilling Koreans a sense of pride.
In the 2010s, Korean Air played a part in the successful hosting of the 2018 PyeongChang Winter Olympic Games through its support in attracting and hosting the Olympiad. Chairman Cho served as chairman of the committee to attract the Winter Olympics and chairman of the PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games, contributing to the successful attracting and hosting of the Olympiad.
In 2018, Korean Air wrote a new chapter of Korean airline history by opening a new market via collaboration through a joint venture with Delta Air Lines.