Hanjin Group Chairman Cho Won-tae increased his stake in Hanjin KAL to counter the possibility of Hoban Group becoming the largest shareholder.
Hanjin Group Chairman Cho Won-tae has agreed to acquire 325,000 shares of the group's holding company, Hanjin KAL, through a block trade worth 37 billion Korean won (approximately $28 million). The transaction is scheduled to be completed between December 3 and January 1. This move aims to strengthen responsible management, coming as Hoban Group, Hanjin KAL's second-largest shareholder, has notified regulators that its stake may have surpassed the chairman's to become the largest.
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