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Hoban Overtakes Cho as Hanjin KAL's Top Shareholder

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. The shift has reignited uncertainty over management control, with Hanjin KAL shares soaring 25.5% as Hoban's stake threatens Cho's position, 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 assessments that a management dispute had become slim after Cho purchased additional stakes, but Hoban is now pushing for a board seat.

  1. Hoban becomes Hanjin KAL's largest shareholder, overtaking Cho Won-tae Korea Times · 2026-11-04
  2. (LEAD) Hoban Construction emerges as Hanjin KAL's largest shareholder Yonhap · 2026-11-04
  3. Hoban Notifies FTC of Biz Combination after Securing More Shares in Hanjin KAL KBS World · 2026-11-02
  4. Hanjin KAL Soars 25.5% as Hoban Group Challenges Cho's Stake Business Korea · 2026-11-03
  5. Korean Air cannot confirm Hoban has overtaken Cho in Hanjin KAL Korea Times · 2026-11-03
  6. Hoban Eyes Hanjin KAL Board Seat Business Korea · 2026-11-03

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