Korean Air to host big IATA meeting in Seoul

Korean Air will host the 75th International Air Transport Association (IATA) Annual General Meeting in Seoul next month.

New Hanjin Group Chairman Cho Won-tae will make his international debut at the global event, where some thousand IATA members from the airline industry will congregate.

The meeting will take place at Coex, southern Seoul, from June 1 through June 3.

Hanjin Group’s late chairman, Cho Yang-ho, father of Cho Won-tae, was to chair the meeting this year, but his sudden death last month left his son to take charge.

The IATA’s meeting is a major airline event at which industry insiders discuss ways to improve and develop the airline industry and address safety concerns. It is also a place for industry insiders to network.

“The chair of the IATA Annual General Meeting is usually selected on the first day of the event through a vote from the heads of airlines,” said a spokesperson for Korean Air. “But Chairman Cho Won-tae will likely chair the event as Korean Air is hosting the event this year.”

Topics to be discussed this year include strengthening airline infrastructure, the regulatory environment and adopting new technologies to foster travel, according to Korean Air.

“Korea’s reputation in the airline industry will likely rise thanks to the visits made by major airline figures from around the world,” said Korean Air in a statement on Thursday.

Meanwhile, Korean Air reported a 16.2-percent on-year drop in its operating profit in the first quarter. The company announced Wednesday an operating profit in the January to March period of 148.2 billion won ($132 million) compared to 176.8 billion won a year ago.

Its sales dipped 1.1 percent on year to 3.05 trillion won from 3.02 trillion won the previous year.

BY JIN MIN-JI [jin.minji@joongang.co.kr]