Hoban Group becomes largest shareholder of Hanjin Kal

Hoban Group has overtaken Chairman Cho Won-tae and his related parties to become the largest shareholder of Hanjin Kal, the holding company of Hanjin Group. According to a public disclosure on November 4, four Hoban Group affiliates, including Hoban Construction, hold 13,814,053 common shares, representing 20.69% of the company.

This stake exceeds the 20.58% held by Chairman Cho and his related parties by a margin of 0.11 percentage points. The current ownership for the Cho faction includes Cho Won-tae at 5.79%, Hanjin President Cho Hyun-min at 5.75%, and advisor Lee Myung-hee at 1.83%.

The leadership position remains uncertain as Chairman Cho has already signed a contract to purchase 325,000 additional shares, valued at approximately 37.05 billion won. This transaction, scheduled to take place via after-hours block trading between early December and early January, would increase the Cho faction's stake to approximately 21.07%, potentially reclaiming the largest shareholder status. Meanwhile, the Fair Trade Commission is currently reviewing a business combination report filed by Hoban Group regarding this change in control.