Hoban becomes largest shareholder in Hanjin KAL
The power struggle over the holding company above Korean Air is entering a new phase, but control of the airline group will not automatically change.
Listen to this article
There is no audio version yet. Request one and an AI voice will read the article aloud.
Read by an AI voice.
Hoban Construction and affiliated companies have become the largest shareholder in Hanjin KAL, according to South Korean media. The holding company is the parent of Hanjin Group, which includes Korean Air; the company itself has not yet been able to fully confirm the new balance.
Hoban has built up a stake in Hanjin KAL in recent years and has reportedly bought additional shares. This would mean the construction group has overtaken chairman Cho Won-tae and parties affiliated with him. The precise size of the new purchases was not immediately public.
SBS News reported that Hoban has also filed a notification concerning a possible business combination with the South Korean competition authority. This does not mean that a takeover or board change has already been approved. The notification may form part of the statutory assessment of the changed shareholder structure.
The balance of power is more complicated than simply the ranking of shareholders. South Korean media point out that Cho has the support of other shareholders, including Delta Air Lines and the state-owned Korea Development Bank. Voting-rights rules and the way affiliated companies are counted may also determine who actually has influence.
According to The Korea Times, Korean Air said it could not confirm whether Hoban had indeed overtaken Cho, because the size of the recent purchases was unclear. The new shareholder ranking therefore remains uncertain.
For Korean Air and the wider Hanjin Group, the struggle could have consequences for strategy, board appointments and capital decisions. It is not yet clear whether the shareholder battle will affect flights or ticket prices for Dutch travellers. The news is chiefly relevant as a sign that the ownership and boardroom struggle around a major Asian airline group is intensifying again.
Also show the region and a close-up
Both sides of the figures
▲ Bright spots
- Hanjin KAL remains a strategically important holding company above Korean Air and therefore attracts the attention of institutional shareholders.
- The power struggle could lead to closer scrutiny of management and capital decisions.
▼ Concerns
- Korean Air could not confirm the new shareholder ranking.
- A change in the largest shareholder does not, according to the reports, automatically mean a change in actual control.
Critical note
The reports concern ownership and possible control, not an established financial result. Without a definitive notification and voting-rights analysis, it cannot be determined whether Hoban has acquired control of the board.
Who notices what
- Investors
- Uncertainty over the shareholder struggle could influence expectations about the strategy and management of Hanjin Group.
- Businesses
- Airline partners and suppliers may face changing strategic priorities, but no decision on this is yet known.
- Government
- The South Korean competition authority must assess the reported change and possible business combination.
Every point comes from the article’s sources and was included in the fact check.
Fact-check Approved with corrections · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The original claim that Hoban is unreservedly the largest shareholder has been qualified because Korean Air could not confirm the new balance. The notification to the competition authority and the wider power struggle have been supported by multiple sources.
- confirmed Hoban has bought additional shares in Hanjin KAL. — Reported by SBS News and Seoul Economic Daily. source
- uncertain Hoban is definitely the largest shareholder. — The Korea Times reported that Korean Air could not confirm this. source
- confirmed The competition authority is assessing a notification concerning a possible business combination. — SBS News reported the filing of the notification. source
1 correction(s) applied
- Was: Hoban is definitively becoming the largest shareholder in Hanjin KAL.Now: Hoban is regarded by several South Korean media outlets as the new largest shareholder, but Korean Air could not yet confirm this. (Conflicting or incomplete confirmation in the sources.)
Editor's note
The development has been reported by several South Korean media outlets, but Korean Air could not confirm the new ranking. The implications for actual control are therefore uncertain.Sources
More on this in Dutch media
- De Telegraaf — „hanjin kal”
- Trouw — „hanjin kal”
- RTL Nieuws — „hanjin kal”