SK Group, South Korea’s third-largest conglomerate by assets, denied that it had plans to acquire Asiana Airlines, in response to the Korea Exchange’s inquiry following media reports. 

Local online news outlet News Tomato reported Tuesday that SK Group is considering the takeover, quoting a senior official of the group. It reported that the matter was discussed during a meeting of the SUPEX Council, the decision-making body of the group. The group’s appointment of former Jeju Air CEO Choi Kyu-nam as vice president of the global business division was part of efforts for the acquisition, it speculated.

Shares of Asiana Airlines surged to 5,130 won ($4.50) on Tuesday morning, the highest since May 21. 

But SK Group said in a regulatory filing that it is not considering buying the airline. Asiana Airlines also denied the rumor, saying the company has no knowledge of the matter.

Earlier this month, the country’s No. 2 full-service carrier was mired in a series of scandals including its poor management of inflight meals after a caterer failed to deliver food on time. 

(ddd@heraldcorp.com)