[COVER STORY] What's Hoban's next step?
Hoban Group is facing a strategic dilemma over its next move in its ongoing ownership battle with Hanjin Group Chairman Cho Won-tae, as sharp swings in Hanjin KAL’s stock make it increasingly costly for either side to keep buying shares to maintain the top shareholder position. Hoban became Hanjin KAL’s largest shareholder on Nov. 4 after increasing its stake to 20.69 percent, narrowly overtaking…
![[COVER STORY] What's Hoban's next step?](/img/19778750)
The Hoban Group finds itself at a strategic crossroads in its ongoing ownership dispute with Hanjin Group Chairman Cho Won-tae. The situation has been further complicated by the erratic trading of Hanjin KAL's stock, which has made it increasingly difficult for either party to maintain their position as the largest shareholder. Hoban surged to become the top shareholder on November 4, surpassing Cho and his associates' 20.58 percent stake with a 20.69 percent holding.
However, the stock's volatility has since intensified, with a record high of 245,000 won, a low point of 185,000 won, and a closing price of 203,500 won. This unpredictability has placed a financial strain on both Hoban and Hanjin as they continue to accumulate shares in their efforts to gain control. The company now has three potential courses of action.
One option is to sell its stake through a block deal. This could involve negotiating with Cho around next year's annual shareholders meeting to stop further share purchases and instead participate in Hanjin KAL's board of directors.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
