Hoban gains $822 mil. in Nov. from Hanjin KAL stake

In November, Hoban Group's stake in Hanjin KAL, the holding company of Hanjin Group, experienced a significant increase in market value, estimated at $822 million. This rise was driven by volatile share prices and speculation surrounding potential control battles. The company's value also surged by approximately 265.2 billion won, marking a notable rise from November 4, when Hoban was identified as the largest shareholder.

Hoban surpassed Hanjin Group Chairman Cho Won-tae and related parties to become the second-largest shareholder in Hanjin KAL in 2022. Their shareholding grew steadily before overtaking Cho's bloc, which held 20.58 percent of the shares. On November 4, Hoban and related parties held 13,814,053 common shares, or 20.69 percent, narrowly leading Cho's bloc.

The share price of Hanjin KAL soared from 123,900 won on October 30 to 184,300 won on November 4, reaching a closing peak of 239,000 won on Tuesday. This represented a remarkable 92.9 percent increase from the October final close. However, profit-taking subsequently caused the stock to decline by 14.64 percent on Wednesday and an additional 0.49 percent on Thursday. On Friday, the share price rebounded slightly, edging up by 0.25 percent to close at 203,500 won.