Sono International Co., Ltd. has taken control of t'way Air (TW, Daegu) after making the final KRW25 billion won (USD18.5 million) payment for a 46.26% share parcel held by YeaRimDang Publishing Co., Ltd. and three individuals associated with that company. Sono International, part of Daemyung Sono Group, a South Korean hotel and travel company, now owns 54.79% of t'way Air.
Regulatory filings show that YeaRimDang transferred 44,473,577 shares (a 39.3% stake) to Sono International on June 24, 2025. Also selling their t'way Air stakes were Na Sung Hoon (3,650,029 shares or 3.23% of t'way's issued stock), Na Chun-ho (2,238,805 shares, 1.98%), and Hwang Jeong-hyeon (1,981,588 shares, 1.75%). All three individuals sit on the YeaRimDang board.
Earlier this year, Sono International paid KRW250 billion (USD185 million) for the YeaRimDang shareholding after becoming t'way Air's second-largest shareholder last year and initiating a battle for control of the low-cost carrier. Both parties had hoped to complete the transaction sooner, but Korea's Fair Trade Commission took longer than expected to approve the takeover.
Reportedly, Daemyung Sono Group Chairman Seo Jun-hyuk has harboured ambitions to enter the airline industry since early last decade. Among other outcomes, he sees potential synergies between his hotel and travel businesses and the airline.
On the same day the share transfer occurred, T'way Holdings, the t'way Air holding company, held an extraordinary shareholders' meeting to appoint nine new directors, including some independent directors. Meanwhile, CEO Chung Hong-geun has previously said he would step down. He is expected to finish up at t'way Air this week, with his replacement yet to be announced.
