[COVER STORY] Hoban's insatiable appetite: Group founder targets Korean Air

Kim Sang-yeol, the founder and former chairman of Hoban Group, has transformed the company into a formidable investor in Korea. His latest venture involves a significant stake in Korean Air, bringing Hoban Group's Hanjin KAL ownership to nearly match that of the airline's primary shareholder. Currently, Hoban Group holds a 20.15 percent share in Hanjin KAL, leaving only a 0.42 percent difference between them and the controlling shareholders.

This minor gap positions Kim to potentially challenge the existing power dynamics at Korea's leading airline.

The outcome of a potential sale of Korea Development Bank's (KDB) 10.58 percent stake in Hanjin KAL could significantly impact the management rights of the airline. The launch of the integrated airline, scheduled for December 17 following Korean Air's acquisition of Asiana Airlines, may see Hoban Group's influence growing even further. Hoban Group's expansion beyond its initial housing construction focus has been marked by a series of acquisitions and investments, including a stake in Taihan Cab.