Korean Air cannot confirm Hoban has overtaken Cho in Hanjin KAL

Hanjin KAL's position as Korean Air's largest shareholder remains unsettled, as Korean Air cannot confirm whether Hoban Group has overtaken Hanjin Group Chairman Cho Won-tae, citing a lack of information on the scale of Hoban's latest share purchases in Hanjin KAL, the nation’s flag carrier said Tuesday. “It has yet to be confirmed over whether Hoban’s stake in Hanjin KAL surpassed that of Cho, so Hanjin KAL will provide an update regarding specific details over the stake structure in a month in a regulatory filing,” a Korean Air official said. Hanjin KAL is the parent firm of Korean Air. Hoban Group recently purchased additional shares in Hanjin KAL, prompting it to file a business combination report with the Fair Trade Commission after determining that its combined holdings had surpassed those of Cho and related parties. However, the exact size of Hoban's latest purchases has not been disclosed, preventing confirmation of whether it has officially taken the top shareholder spot in Hanjin KAL. Following a report on Hoban’s filing to the watchdog on Monday, Cho signed an agreem