Korea's fair trade watchdog on Monday approved Hanwha Group's recent acquisition of additional stakes in Korea Aerospace Industries Ltd. (KAI). The FTC said Hanwha Group's combined 15.89 percent stake was not enough to exercise substantial influence over KAI's overall management. It added that another merger review would be conducted if Hanwha becomes KAI's largest shareholder or if Hanwha executives make up at least one-third of KAI's executives.
Hanwha Group headquarters in central Seoul / Courtesy of Hanwha Group
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.
"KAI's largest shareholder is the Export-Import Bank of Korea, with a 26.41 percent stake, while the National Pension Service holds 8.75 percent," the FTC said.
