Asiana Airlines Decides to Merge into Korean Air – Appraisal Price Set at KRW 7,030

Asiana Airlines will merge into Korean Air, with Korean Air as the surviving entity.
The appraisal price for dissenting Asiana shareholders is set at KRW 7,030 per share (arithmetic mean of volume-weighted average prices over last 2 months, 1 month, and 1 week).
Korean Air proceeds as a small-scale merger, but may convert to ordinary merger if shareholders holding over 20% of shares object.
Merger requires regulatory approvals including from Ministry of Land, Infrastructure and Transport and Vietnam competition authority.
Merger date is scheduled for December 17, 2026; appraisal rights exercise period ends September 1, 2026.
Asiana's board ESG committee (3 outside directors) reviewed and recommended the merger for fairness.
Termination conditions include: if total appraisal payment exceeds KRW 1 trillion.