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Hoban Group becomes the largest shareholder at Korean Air
November 5th 2026
Hoban Group has become the largest shareholder of Hanjin KAL, parent company of Korean Air (KAL), overtaking Hanjin Group Chairman Cho Won-tae and his related parties, according to the latest regulatory filing. Read More » 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 largest-shareholder status as of Wednesday. "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 told The Korea Times. As of Wednesday, Cho and his related parties secured a 20.58 percent stake in Hanjin KAL, making them the firm’s second-largest shareholder. The change, however, does not automatically mean a shift in management control, as Cho still has backing from major shareholders, including Delta Air Lines and state-run Korea Development Bank (KDB), The Korean Times said.
