SEOUL: Korean Air Co., South Korea's largest airline, has successfully finalized the acquisition of its local competitor, Asiana Airlines Inc., fully integrating it as a subsidiary. This marks the conclusion of a protracted merger process that began several years ago, the company announced on Thursday. According to Yonhap News Agency, the acquisition culminated with Korean Air spending 1.5 trillion won (approximately US$1.04 billion) to purchase 131.57 million new shares issued by Asiana Airlines. The entire merger deal was valued at 1.8 trillion won, positioning Korean Air as the dominant player in South Korea's full-service airline market. The integration of Asiana as a subsidiary signifies a significant consolidation in the aviation industry, potentially impacting competition and market dynamics in the region. The merger is expected to enhance Korean Air's operational efficiency and expand its network, although concerns about reduced competition and potential fare increases have been raised by industry o bservers. This strategic acquisition aligns with Korean Air's long-term goal of strengthening its position in the global aviation market. The merger is anticipated to offer enhanced services to passengers by optimizing routes and resources between the two airlines, thereby potentially increasing their competitiveness on the international stage.