South Korea Orders Inspections of Boeing 737-800s

A tragic crash involving a Jeju Air Boeing 737-800 on December 29 resulted in the deaths of 179 people, marking South Korea's worst aviation disaster. In response, the South Korean government has ordered a comprehensive inspection of all 101 Boeing 737-800 aircraft operating within the country, especially following reports of another Jeju Air flight experiencing landing gear issues. Initial investigations suggest the plane may have collided with birds during its approach, leading to landing gear failure and a distress signal before the crash. Amidst this tragedy, there are concerns about the government's ability to manage the situation due to recent political upheaval, including the impeachment of top officials. The acting President Choi Sang-mok has initiated a task force to review aviation safety systems to prevent future incidents. While some analysts believe there should be no direct impact on Boeing's stock, the crash has fueled bearish sentiment among retail investors.