SEOUL -- Troubled conglomerate Kumho Asiana Group has decided to sell its interest in Asiana Airlines, South Korea's second-largest airline responsible for over 60% of groupwide sales, in a move that essentially breaks up the group.
Viewed as economic drivers, conglomerates often received government protection when they fell on hard times. But this time President Moon Jae-in has come down hard on the Kumho group amid mounting public pressure and growing economic woes.
