Sono International, the group's holding company, issued a management proposal to T’way Air early this week, the firm said.
Daemyung Sono’s push into aviation underscores its efforts to diversify beyond its core hospitality business.
The move follows heightened scrutiny of T’way Air’s safety practices and operational reliability by the Ministry of Land, Infrastructure and Transport.
Currently, T’way Holdings and YeaRimDang Publishing hold a combined 30.06 percent stake in the airline, making them the largest shareholders. Daemyung Sono, with a 26.77 percent stake in T'way Air through its subsidiaries Sono International and Daemyung Sono Season, plans to nominate new board members at the airline’s upcoming shareholders’ meeting in March.
The acquisition bid sets the stage for a high-stakes management battle for the airliner.
“We aim to enhance customer satisfaction and shareholder value through innovations and improved services, leveraging Daemyung Sono Group’s extensive domestic and international infrastructure,” said Seo Jun-hyeok, chairman of Daemyung Sono Group.
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