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Hoban Group has become the largest shareholder of Hanjin KAL, the holding company of Korean Air, overtaking Hanjin Group Chairman Cho Won-tae and his related parties, according to a regulatory filing on Wednesday, Yonhap reports. Hoban Construction emerged as the top shareholder, and Hoban has notified the Fair Trade Commission of a business combination after securing more shares, KBS World reports. Shares in Hanjin KAL surged 25.5% as the battle for management control reignited, Business Korea reports. Korean Air said it cannot confirm whether Hoban has overtaken Cho, citing a lack of information on the scale of stakes, the Korea Times reports. Business Korea notes that uncertainty surrounds the direction of management rights, with Hoban eyeing a board seat, though assessments suggest a management dispute has become practically slim after Cho purchased additional stakes.