Page 28 - The South China Business Journal
P. 28
mmunity News
five oceans and six continents with the nation’s ‘Taeguek’ achieve growth, profitability, and stability under the
symbol on the tail fin of the plane. “Vision 2023”.
In the 1970s, Korean Air continued to lead the way Korean Air has tailored strategies for sustainable growth
in the Pacific, Europe and the Middle East, supporting in each business area. In the passenger segment, the
the development of national industries. In the 1980s, it airline will continue to expand on its Americas-Asia
helped to raise the status of Korea as an official airline network based on the joint venture with Delta Air Lines
of the Seoul Olympic Games, promoting the country to and explore new routes to Europe and Southeast Asia.
the world.
Cargo will improve profitability by expanding the
From 1990 to 2000, Chairman of the Hanjin Group, sales of high-margin products, such as pharmaceuticals
which operates Korean Air, Cho Yang-ho made significant and fresh cargo, along with its new focus on emerging
breakthroughs when he took on full leadership roles. markets, namely Vietnam, India and Latin America.
Chairman Yang-ho became the President of Korean Air in In the aerospace business, Korean Air will ensure the
1992, Chairman of Korean Air in 1999, and Chairman of potential for growth by developing new technologies
Hanjin Group in 2003. for civilian aircraft manufacturing and unmanned aerial
vehicles. Profitability in in-flight meals and in-flight
In the 1990s, Korean Air opened the gate to China and sales will also be improved with the department’s efforts
Russia, launching its Beijing and Moscow routes. In the to analyze and adapt passenger consumption patterns.
2000s, under the guidance of Chairman Yang-ho, Korean Korean Air is expecting to achieve sales of KRW16 trillion
Air was one of the founding members of the international in 2023 with annual growth of 5.1%, and plans to expand
airline alliance SkyTeam. Chairman Yang-ho also its number of aircraft to 190.
introduced Korean language services to three of the
most famous museums in the world: Musée du Louvre Corporate governance will also be enhanced with the
in France, State Hermitage Museum in Russia, and the effective operation of internal governing committees,
British Museum in the U.K. including the Audit Committee, the Management
Committee, the Non-Standing Director Nomination
In 2018, the airline played an important role in the Committee, the Affiliate Transactions Committee, and
PyeongChang Winter Olympic and Paralympic Games, the Safety Committee. In order to improve its financial
supporting the successful organization of the Games structure, the company will lower debt to KRW11 trillion
as an official partner. As chairman of both the bid and the debt ratio to 395% by 2023.
committee and the organizing committee of the Winter
Olympics and Paralympics, Mr. Cho played a key role in In order to maximize shareholder value, Korean Air will
the success of the Games. maintain its current dividend payout ratio and continue
efforts to improve investor relations.
Also in 2018, Korean Air started another chapter in its
history by exploring new markets through a joint venture Uniting Employees With a Variety of
agreement with Delta Air Lines. Customer Appreciation Events
Over the past 50 years, Korean Air has flown During the anniversary ceremony held in the airline’s
10,187,193,280 km, which is the same as 254,679 laps of the Headquarters in Seoul on March 4, Korean Air
globe or 13,400 round-trips from the Earth to the moon. celebrated its 50th anniversary with over 1,500 of its
executives and employees, along with employees from
Since its establishment, Korean Air has carried 714.99 partner companies.
million people, which is equivalent to over 13 times the
total Korean population. A total of 40.54 million tons of Guests at the celebration enjoyed various events,
cargo have been delivered, which is about 50.775 million including best employee awards, cake cutting, and
8-ton trucks. musical performances by the company’s choir.
In March 1969, Korean Air ranked 11th among 11 airlines The longest-serving employee award went to Mr. Kang
in Asia. The company only had eight aircraft: one jet and Man-soo, 59, of Busan Kimhaejung maintenance factory
seven propeller planes. Today, it has grown into a global and Ryu Dae-young, director of the quality management
airline, operating 166 aircraft, including 42 B777s, 9 B787- department, who both joined the company in 1977.
9s, 10 B747-8is, and 10 A380s.
Captain Lee Deok-yeol, 63, was recognized for the
Preparing to Reach 100-year Milestone longest flying time of 23,333 hours, and Ms. Oh Young-
mi, 59, was recognized for her 8,159 hours of flight time
Korean Air is taking steps to ensure the company as a flight attendant.
reaches the 100-year milestone, and the airline aims to
25 AmCham South China
five oceans and six continents with the nation’s ‘Taeguek’ achieve growth, profitability, and stability under the
symbol on the tail fin of the plane. “Vision 2023”.
In the 1970s, Korean Air continued to lead the way Korean Air has tailored strategies for sustainable growth
in the Pacific, Europe and the Middle East, supporting in each business area. In the passenger segment, the
the development of national industries. In the 1980s, it airline will continue to expand on its Americas-Asia
helped to raise the status of Korea as an official airline network based on the joint venture with Delta Air Lines
of the Seoul Olympic Games, promoting the country to and explore new routes to Europe and Southeast Asia.
the world.
Cargo will improve profitability by expanding the
From 1990 to 2000, Chairman of the Hanjin Group, sales of high-margin products, such as pharmaceuticals
which operates Korean Air, Cho Yang-ho made significant and fresh cargo, along with its new focus on emerging
breakthroughs when he took on full leadership roles. markets, namely Vietnam, India and Latin America.
Chairman Yang-ho became the President of Korean Air in In the aerospace business, Korean Air will ensure the
1992, Chairman of Korean Air in 1999, and Chairman of potential for growth by developing new technologies
Hanjin Group in 2003. for civilian aircraft manufacturing and unmanned aerial
vehicles. Profitability in in-flight meals and in-flight
In the 1990s, Korean Air opened the gate to China and sales will also be improved with the department’s efforts
Russia, launching its Beijing and Moscow routes. In the to analyze and adapt passenger consumption patterns.
2000s, under the guidance of Chairman Yang-ho, Korean Korean Air is expecting to achieve sales of KRW16 trillion
Air was one of the founding members of the international in 2023 with annual growth of 5.1%, and plans to expand
airline alliance SkyTeam. Chairman Yang-ho also its number of aircraft to 190.
introduced Korean language services to three of the
most famous museums in the world: Musée du Louvre Corporate governance will also be enhanced with the
in France, State Hermitage Museum in Russia, and the effective operation of internal governing committees,
British Museum in the U.K. including the Audit Committee, the Management
Committee, the Non-Standing Director Nomination
In 2018, the airline played an important role in the Committee, the Affiliate Transactions Committee, and
PyeongChang Winter Olympic and Paralympic Games, the Safety Committee. In order to improve its financial
supporting the successful organization of the Games structure, the company will lower debt to KRW11 trillion
as an official partner. As chairman of both the bid and the debt ratio to 395% by 2023.
committee and the organizing committee of the Winter
Olympics and Paralympics, Mr. Cho played a key role in In order to maximize shareholder value, Korean Air will
the success of the Games. maintain its current dividend payout ratio and continue
efforts to improve investor relations.
Also in 2018, Korean Air started another chapter in its
history by exploring new markets through a joint venture Uniting Employees With a Variety of
agreement with Delta Air Lines. Customer Appreciation Events
Over the past 50 years, Korean Air has flown During the anniversary ceremony held in the airline’s
10,187,193,280 km, which is the same as 254,679 laps of the Headquarters in Seoul on March 4, Korean Air
globe or 13,400 round-trips from the Earth to the moon. celebrated its 50th anniversary with over 1,500 of its
executives and employees, along with employees from
Since its establishment, Korean Air has carried 714.99 partner companies.
million people, which is equivalent to over 13 times the
total Korean population. A total of 40.54 million tons of Guests at the celebration enjoyed various events,
cargo have been delivered, which is about 50.775 million including best employee awards, cake cutting, and
8-ton trucks. musical performances by the company’s choir.
In March 1969, Korean Air ranked 11th among 11 airlines The longest-serving employee award went to Mr. Kang
in Asia. The company only had eight aircraft: one jet and Man-soo, 59, of Busan Kimhaejung maintenance factory
seven propeller planes. Today, it has grown into a global and Ryu Dae-young, director of the quality management
airline, operating 166 aircraft, including 42 B777s, 9 B787- department, who both joined the company in 1977.
9s, 10 B747-8is, and 10 A380s.
Captain Lee Deok-yeol, 63, was recognized for the
Preparing to Reach 100-year Milestone longest flying time of 23,333 hours, and Ms. Oh Young-
mi, 59, was recognized for her 8,159 hours of flight time
Korean Air is taking steps to ensure the company as a flight attendant.
reaches the 100-year milestone, and the airline aims to
25 AmCham South China
