Vietnam has approved a business combination for Korean Air's acquisition of Asiana Airlines.
Korean Air announced on November 16 that it recently received approval for a business combination related to the acquisition of Asiana Airlines from the Vietnam Competition Authority, which is a mandatory reporting country.
The Vietnamese Ministry of Industry and Trade said in a written approval decision that Korean Air's merger and acquisition of Asiana Airlines was not a transaction prohibited under Vietnam's Competition Law, and that it would abide by the regulations of Vietnam's Competition Law in the future.
On January 14, this year, Korean Air submitted a business combination report to the competition authorities of nine mandatory reporting countries and passed the business combination review by the competition authorities of Turkey, Taiwan and Vietnam.
Thailand was also informed that it was not subject to the preliminary examination of the business combination and actually passed the examination.
In addition, Korean Air received an approval decision from Malaysia, a voluntary reporting country, and received an opinion from the Philippine Competition Authority to terminate the procedure as it is not subject to notification.
Korean Air is waiting for approval while actively cooperating with the competition authorities of the remaining mandatory reporting countries, such as South Korea, the United States, the EU, China, and Japan.
