The sale process has begun for South Korea's second-largest carrier, Asiana Airlines, according to deal broker Credit Suisse.

Speaking on behalf of Kumho Industrial, Asiana's parent company, the Zurich-based financial firm announced on Thursday that it is making the necessary preparations to sell off its stake in Asiana Airlines.

The future buyer will take over the 68-million-688-thousand-63 Asiana shares owned by Kumho for a controlling 31 percent ownership stake. The buyer will also acquire new shares issued by the carrier.

When considering that the share price for Asiana Airlines closed at six-thousand-520 won on Wednesday, it will take a minimum of about 450-billion won to acquire the stake owned by Kumho Industrial. 

Factoring in management rights and other associated costs, however, the total price for the airline could exceed 1 trillion won, or about 848-million U.S. dollars.

It is expected that the selection of a preferred bidder and the signing of the deal will be completed within this year.