Hoban becomes Hanjin KAL's largest shareholder, overtaking Cho Won-tae

Hoban Group has become the largest shareholder of Hanjin KAL, overtaking Hanjin Group Chairman Cho Won-tae and his related parties, according to a regulatory filing Wednesday, marking a significant shift in the ownership structure of the holding company behind Korean Air. Hanjin KAL disclosed that Hoban Group and related parties held a combined 13,814,053 common shares, totaling a 20.69 percent stake in Hanjin KAL, confirming the change in its largest shareholder position as of Wednesday. The disclosure follows growing speculation over whether Hoban's share had surpassed Cho's after the construction group recently purchased additional Hanjin KAL shares and reported it with the Fair Trade Commission. “However, as disclosed by Hanjin KAL’s recent report, Cho and his related parties could regain their position as Hanjin KAL’s largest shareholder once they complete the planned purchase of 325,000 shares by Jan. 1 next year,” an official from Korean Air said. As of Wednesday, Cho and his related parties secured a 20.58 percent stake in Hanjin KAL, which shifted their position to the f