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Comment: Korean Air, Asiana likely to face headwinds over failing-firm defense argument amid pandemic

By Wooyoung Lee and Jenny Lee
  • 01 Apr 2021 23:18
  • 01 Apr 2021 23:18

Korean Air is likely to use a failing-firm defense in its takeover of Asiana Airlines amid mounting financial losses from the Covid-19 pandemic, in addition to longstanding financial troubles at Asiana. Last year’s bid by Jeju Air to acquire Eastar Jet, which gained approval based on a failing-firm defense, also raises

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Wooyoung Lee

Correspondent, Seoul

Wooyoung Lee is a correspondent based in MLex’s Seoul office, South Korea, covering antitrust, privacy and data security, mergers and acquisitions and financial services. Wooyoung has more than a decade of experience in journalism, public policy and research. She has worked and written for news outlets including The Korea Herald, Al Jazeera International, Bloomberg BNA, Monocle, among others.

Jenny Lee


Jenny joined MLex’s Seoul bureau in 2021 as a correspondent focusing on competition law and data privacy and security. Jenny received a Master’s degree from Northwestern University’s renowned Medill School of Journalism and worked for a number of news organizations in the US, including the Associated Press Television News, McClatchy and Voice of America, where she worked for almost three years in Washington DC. She returned to her native South Korea in 2019 as a reporter for Wired Korea.

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