[Infostock Daily= Reporter Park Hyo-sun] KDB Bank and Korea Eximbank finally approved the agenda to support 1.2 trillion won for Korean Air.
In advance, Creditors decided to support a total of 1.2 trillion won, including 200 billion won in operating funds to Korean Air, 700 billion won in asset-backed securities(ABS) for cargo transportation, and 300 billion won in perpetual convertible bond.
KDB Bank will support 60% and Eximbank will support 40%.
Korean Air has decided to implement its financial Structure Improvement Plan(self-rescue plan) instead of receiving financial support.
Korean Air's self-rescue plan is said to include a 1 trillion won rights offering, a site in Songhyeon-dong, Jongno-gu, Seoul, and a stake in Wangsan Leisure Development, a Wangsanmarina operator.
Reporter Park Hyo-sun hs1351@infostock.co.kr