Korean Air's board resolved on August 12 to cancel 52 common shares and 3 preferred shares, with a combined book value of ₩1,940,400. Retirement is set for August 25, after which the count falls from 368,220,661 common and 1,110,794 preferred to 368,220,609 and 1,110,791. Against a market capitalisation of roughly ₩10.6tn that is about 0.00002% of the company, so nothing here changes any shareholder's economics. What the filing does explain is where the shares came from: they were picked up for a specific purpose during a corporate division, under Article 341-2 of the Commercial Act, and are now being cancelled under the proviso to Article 343(1) on a board resolution alone. The share count falls and issued capital does not. Six outside directors attended and none were absent.