"Korean Air and Samsung Financial Networks Join Forces to Explore New Aviation and Financial Businesses"

Exploring New Revenue Sources and Joint Business Initiatives

Korean Air signed a memorandum of understanding (MOU) on the 18th to establish a strategic partnership with Hanjin Kal, the holding company of the Hanjin Group, Hanjin Group's airline subsidiaries Asiana Airlines and Jin Air, and Samsung Financial Networks (Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities, Samsung Asset Management, hereinafter referred to as 'Samsung Financial').

Korean Air signed a memorandum of understanding (MOU) on the 18th to establish a strategic partnership with Hanjin KAL, the holding company of the Hanjin Group, as well as with the airline subsidiaries of Hanjin Group, Asiana Airlines and Jin Air, and Samsung Financial Networks (Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities, Samsung Asset Management, hereafter 'Samsung Financial'). Korean Air

Korean Air and Samsung Financial have agreed to discover new future revenue sources and jointly pursue new businesses to enhance their market competitiveness. This includes exploring ways to offer innovative services by integrating both companies’ membership programs, fintech, artificial intelligence (AI), digital assets, and other next-generation technologies.

The two companies also plan to continue diverse collaborations in new business areas, such as developing financial products themed around the aviation industry and creating safety management insurance programs for the aviation and transportation sectors.

By combining their expertise and brand assets built up in the aviation and financial sectors, the two companies aim to deliver a differentiated customer experience. They are considering launching co-branded products featuring Korean Air benefits and providing premium services for VIP customers.

A Korean Air representative stated, "We plan to seek various ways to secure market competitiveness befitting a global network carrier and offer innovative services to our customers."

A Samsung Financial representative commented, "Through collaboration among leading companies in the financial and aviation industries, we expect customers will be able to experience even more differentiated services and benefits."

This content was produced with the assistance of AI translation services.