Fair trade watchdog approves Hanwha's acquisition of additional KAI stakes
Korea's fair trade watchdog on Monday approved Hanwha Group's recent acquisition of additional stakes in Korea Aerospace Industries Ltd. (KAI). The Fair Trade Commission's (FTC) approval came after Hanwha Systems recently purchased a 3.45 percent stake in KAI, raising Hanwha Group's combined stake in the aircraft manufacturer to 15.89 percent, including the 9.9 percent held by Hanwha Aerospace.…
Korea's fair trade watchdog recently greenlit Hanwha Group's acquisition of extra shares in Korea Aerospace Industries Ltd. (KAI). The Fair Trade Commission (FTC) greenlit the move after Hanwha Systems secured a 3.45 percent share in KAI, boosting Hanwha Group's overall stake to 15.89 percent, which includes the pre-existing 9.9 percent held by Hanwha Aerospace.
KAI's biggest investor remains the Export-Import Bank of Korea, holding a 26.41 percent share. The National Pension Service owns 8.75 percent of KAI.
According to the FTC, Hanwha's 15.89 percent stake doesn't give them enough sway to significantly impact KAI's management. However, the watchdog indicated they'd re-examine the deal if Hanwha became KAI's largest shareholder or if Hanwha executives collectively represented at least one-third of KAI's executive team.
KAI, Korea's sole aircraft manufacturer, produces the KF-21 advanced fighter jet, the FA-50 light combat aircraft, and their trainer variants, along with the Surion and M-series drones.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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