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Analysts said, however, that Asiana's greenlighting of the cargo unit sale did not necessarily ensure smooth sailing ahead for the deal. They noted the desired valuation for the air cargo unit of some 700 billion won ($520 million) including debt, as reported by local media, was probably too high. Approving the sale was a contentious issue at Asiana amid concerns that a takeover by Korean Air would lead to the loss of many Asiana jobs. Korean Air also said it will buy 300 billion won of convertible bonds issued by Asiana, part of fresh financial support to the smaller airline. The company accounts for about a fifth of South Korea's market for overseas air cargo.

Persons: Bae, Asiana, IAG, 1,342.9900, Joyce Lee, Heekyong Yang, Hyunsu Yim, Edwina Gibbs Organizations: Asiana Airlines, Korean Air Lines, Korean Air, country's, European, Analysts, Hi Investment, Securities, European Union, European Commission, Air, Lufthansa, ITA Airways, British Airways, Spanish, Korea Development Bank, Asiana, Thomson Locations: SEOUL, KS, Korean, Union, United States, Japan, Asiana, Iberia, Germany, Russia

☆ Asiana Airlines shares jump ahead of board meeting on merger with Korean Air
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

If approved, the move might help South Korea's biggest carrier Korean Airlines (003490.KS) to win European Union antitrust approval for acquiring Asiana Airlines. Asiana Airlines said on Friday that it would hold a board meeting on Monday to discuss whether to accept Korean Air's proposal to the EU, according to its regulatory filing. Reuters reported earlier that Korean Air would offer to sell Asiana's air cargo business and divest routes to four EU cities. Separately, Korean Air will convene a board meeting on Monday, said a company official who declined to share further details. At the board meeting, the carrier is expected to finalise a revised proposal to gain EU approval for its merger with Asiana Airlines, Maeil Business Newspaper reported.

Persons: Heekyong Yang, Ed Davies Organizations: Korea's Asiana Airlines, Korean Air Lines, Korea's, Korean Airlines, Asiana Airlines, Reuters, Korean Air, Maeil Business, Thomson Locations: SEOUL, Korea's, KS, Asiana

☆ Lee must stay humble, says coach Klinsmann of PSG playmaker
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

Oct 15 (Reuters) - South Korea coach Juergen Klinsmann has called on Lee Kang-in to keep his feet on the ground as the Paris Saint-Germain playmaker continues his emergence as the country's next great hope. "It's just a joy to work with him because he's always in a good mood, he's always smiling, but he's also hungry," Klinsmann said. It's not easy for Kang-in to stay hungry because here, he's getting treated like a pop star, which is not good because a pop star doesn't score goals. "Every time he will come back to Korea, there will be I don't know how many people screaming for him," Klinsmann said. "When a club like Paris Saint-Germain takes a player from Korea, it means that it's a very special player.

Persons: Juergen Klinsmann, Lee Kang, Germain, Lee, he's, Klinsmann, Kang, Paris Saint, Michael Church, Muralikumar Organizations: Paris Saint, Asian Games, La Liga, Real Mallorca, Champions League, Thomson Locations: South Korea, Paris, Tunisia, Seoul, China, Spain, Korea, South, Europe

☆ PSG give Lee green light to join South Korea Asian Games squad
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

Sept 15 (Reuters) - Paris St Germain (PSG) have agreed to let midfielder Lee Kang-in join up with South Korea's Asian Games squad during the group stage, the country's football association (KFA) said on Friday. Teams are under no obligation to release players for the Asian Games as the tournament falls outside FIFA's official window. The Games, which were postponed from 2022 due to the COVID-19 pandemic, run from Sept. 23 to Oct. 8 in Hangzhou, China. The men's soccer tournament begins on Sept. 19, with South Korea kicking off their campaign against Kuwait as they bid for a third straight gold medal. Reporting by Hritika Sharma in Hyderabad; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee Kang, KFA, Lee, Hritika Sharma, Peter Rutherford Organizations: Paris St Germain, PSG, Korea's Asian, Ligue, PSG's Champions League, Borussia Dortmund, Games, South, Real Mallorca, Thomson Locations: Paris, Hangzhou, China, South Korea, Kuwait, Thailand, Bahrain, Hyderabad

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