Hoban Construction Expands Hanjin Kal Stake to Over 20%, Narrows Gap with Chairman Cho

Hoban Construction and its affiliated companies have significantly boosted their shareholding in Hanjin Kal, the holding company of Korean Air, now controlling over 20.15% of the company's stock. This strategic acquisition has brought them notably closer to the largest shareholder, Hanjin Group Chairman Cho Won-tae.

As of the latest filings, Cho Won-tae and his related parties hold approximately 20.57% of Hanjin Kal. The increased stake by Hoban Construction narrows this difference to a mere 0.43 percentage points. This development intensifies the focus on the corporate governance and future direction of the Hanjin Group, which oversees one of South Korea's major airlines.

Despite the increased stake and the narrowing gap, Hoban Construction has officially declared its investment objective as "simple investment." This statement suggests that, at present, the company is not signaling an immediate intention to pursue a management takeover. However, the increased shareholding is likely to be closely watched by market analysts and stakeholders within the Hanjin Group.