Industry History | Korean Air — Hanjin Took the State Book at Gimpo
· 1969-3
Unreviewed contributionBy kevin · · updated · Report an issue
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Industry History | Korean Air — Hanjin Took the State Book at Gimpo
kevin
People treat Korean Air as an Incheon hub that always flew a sky-blue livery to six continents.
The first private book was a distressed state carrier at Gimpo.
On 1 March 1969 Hanjin, led by Cho Choong-hoon, took over the government airline and renamed it Korean Air. The predecessor, Korean National Airlines, had been reorganized as Korean Air Lines in 1962 after KNA's collapse. The inherited fleet was eight aging aircraft. International routes numbered three, all to Japan. The cancellation rate stood at 17.5 percent. Debt was 2.7 billion won.
The present headquarters is at 260 Haneul-gil, Gangseo-gu, on the airport side of Gimpo. The public view is the terminal approach and the Haneul-gil frontage, not the hangars.
On 2 October 1969 a Boeing 720 opened a Seoul-Osaka-Taipei-Hong Kong-Ho Chi Minh-Bangkok chain. That was the first new international city after the Hanjin takeover.
The mechanism is privatization under a freight house. A trucking group accepted a flag carrier the state could no longer fund, then used Gimpo as the ramp from which the book was rebuilt.
This pin is not Incheon. The 1969 transfer happened while Gimpo was still Seoul's international airport.
Photo: public view of Gimpo International Airport, via Wikimedia Commons.
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