South Korea will support smaller airlines and monitor market competitiveness after dominant carrier Korean Air completed a $1.3 billion acquisition of Asiana Airlines on Thursday to create one of Asia's biggest carriers.

Korean Air said on Thursday it had completed its protracted purchase of South Korean rival Asiana Airlines, making it one of Asia's biggest carriers. The 1.8 trillion won ($1.3 billion) deal, the longest-ever merger to complete between airlines,

Find out about the mega-merger between Korean Air and Asiana Airlines and its implications for the global airline industry.

Korea's only dedicated cargo airline Air Incheon is preparing to launch a unified operation next July following its acquisition of Asiana Airlines' cargo division with Kim Kwan-sik appointed CEO to lead the effort.

Surprisingly, American Airlines operates just one route to South Korea, connecting Seoul Incheon International Airport (ICN) with its hub at Dallas/Fort Worth International Airport (DFW). On this route, the oneworld carrier competes with Korean Air.

With the acquisition of a 63.88 percent stake, Korean Air said it had invested 1.5 trillion won in the merger, "making Asiana Airlines a subsidiary" of the company. The move will create Asia's second-biggest airline group based on capacity, after Singapore Air, and the 10th-largest globally, according to Bloomberg News.

Korean Air has finally closed its acquisition of Asiana Airlines after acquiring a 63.88% ownership stake and making Asiana its subsidiary.

Photo Credit: Thiago B Trvisan/Shutterstock Korean Airlines has completed its acquisition of Asiana, South Korea's second-largest carrier. The $1.3 billion deal, which gives Korean a 64% stake in Asiana, came four years after the airlines reached a ...

More route options and enhanced connectivity are underway for travelers from the Philippines as Korean Air (KE) acquired a majority stake in Asiana Air

SEOUL(Reuters) -- Korean Air has completed its protracted purchase of indebted South Korean rival Asiana Airlines ... unveiled four years ago by South Korea's largest carrier to rescue Asiana ...