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Hoban Becomes Hanjin KAL Top Shareholder; Cho Buys More Shares
Hoban Group has notified Korea's Fair Trade Commission of a business combination after acquiring more shares in Hanjin KAL, the holding company of Hanjin Group, and has ascended to the position of the largest shareholder, according to KBS World and Business Korea on Nov. 2. This has raised uncertainty over the direction of management rights for Hanjin Group Chairman Cho Won-tae, Business Korea reports. Separately, a civic group has filed a breach of trust complaint over Hanjin-linked share deals, with suspicions that Korea Zinc funds were used in transactions tied to Chairman Cho's inheritance tax obligations, Business Korea reported on Oct. 26. Korean media coverage focuses on the control struggle and the legal risks surrounding Cho, rather than on any specific new share purchase by him.


















