Korea Development Bank said Thursday it has proposed a meeting between its Chairman Lee Dong-gull and HDC Chairman Chung Mong-gyu over the delayed Asiana Airlines’ acquisition deal.

The policy bank, main creditor bank of the airline, said it has suggested top-level talks to “alleviate uncertainties” regarding the purchase plan by the construction firm.

The proposal came on the same day the CEOs of Kumho Industrial and HDC Hyundai Development Co. met at an undisclosed location in Seoul.

Seo Jae-hwan, CEO of Kumho Industrial, which owns the airline, and Kwon Soon-ho of HDC were accompanied by other company officials to discuss how to move forward on the deal that has been shaky amid the COVID-19 pandemic. It was their first one-on-one meeting. 

Details of the talks were not disclosed. Industry watchers said the two are likely to have discussed HDC’s demand for another round of due diligence.

Kumho Industrial and Asiana have been passing the blame for the stalled acquisition process. 

Kumho Industrial has been raising questions over HDC’s intention to follow through with its purchase of the struggling airline.

HDC has been demanding another round of 12-day due diligence citing “dubious” financial statements and the airline’s move to borrow additional funds without seeking approval. The creditors have also been negative toward opening another round of financial review.

(khnews@heraldcorp.com)