# Hoban Group and Chairman Cho compete for Hanjin Kal control > Developing situation record from CLSTR: https://clstr.news/situations/hoban-group-corporate-expansion-and-acquisitions > Updated: 2026-11-04T14:33:06.000Z. Sources: 8. Developments: 3. Hoban Group has initiated a period of strategic restructuring and expansion. In October 2026, the group implemented a new management system by appointing several key executives, including Kim Dae-heon as Chairman of the Board of Hoban Construction and Song Jong-min as Senior Vice Chairman and CEO of Hoban Construction. Additionally, Kim Jun-seok was named CEO of Taihan Cable & Solution to focus on next-generation technologies and international market expansion. By November 2026, a management dispute emerged over Hanjin Kal, the holding company of Hanjin Group, after Hoban Group surpassed Chairman Cho Won-tae as the largest single shareholder through significant share purchases. On November 4, public disclosures revealed that 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 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%. While Hoban Group maintains the purpose of the investment is “simple investment,” the group has filed a business combination report with the Fair Trade Commission. In response, Chairman Cho has signed a contract to purchase approximately 325,000 additional shares via an after-hours block deal valued at roughly 37.05 billion won. Scheduled between early December and early January, this transaction could increase the Cho faction's stake to approximately 21.07%, potentially reclaiming largest shareholder status. The outcome may be influenced by the upcoming shareholder meeting in March and the future disposition of shares held by the Korea Development Bank. ## Timeline ### 2026-11-04: Hoban Group becomes largest shareholder of Hanjin Kal Hoban Group has surpassed Chairman Cho Won-tae as the largest shareholder of Hanjin Kal with a 20.69% stake, though Cho plans to reclaim the position through a scheduled share purchase in December. 3 sources. https://clstr.news/cluster/hoban-group-becomes-largest-shareholder-of-hanjin-kal-1 ### 2026-11-02: Hoban Group and Chairman Cho Won-tae compete for Hanjin Kal control Hoban Group has reportedly overtaken Hanjin Group Chairman Cho Won-tae as the largest shareholder of Hanjin Kal, sparking a potential management dispute and a race for additional shares. 6 sources. https://clstr.news/cluster/hoban-group-becomes-largest-shareholder-of-hanjin-kal ### 2026-10-21: Hoban Group appoints new leadership to drive global expansion Hoban Group has appointed Kim Dae-heon as Chairman of Hoban Construction, Song Jong-min as Senior Vice Chairman, and Kim Jun-seok as CEO of Taihan Cable to drive global growth and diversification. 2 sources. https://clstr.news/cluster/hoban-group-appoints-new-leadership-to-drive-global-expansion --- Cite as: Hoban Group and Chairman Cho compete for Hanjin Kal control. CLSTR, https://clstr.news/situations/hoban-group-corporate-expansion-and-acquisitions