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. This rise was driven by speculation surrounding potential control battles, resulting in an estimated $822 million gain. The value of Hoban's stake also rose by approximately 265.2 billion won, from November 4 when Hoban was identified as the company's largest shareholder.

As of November 4, Hoban had become Hanjin KAL's second-largest shareholder, surpassing Cho Won-tae, Hanjin Group Chairman and his affiliated parties. The disclosure on November 4 revealed that Hoban and affiliated parties owned 13,814,053 common shares, or 20.69 percent, just narrowly ahead of Cho's bloc at 20.58 percent.

Throughout November, Hanjin KAL shares soared from 123,900 won on October 30 to a closing peak of 239,000 won on November 4, indicating a remarkable 92.9 percent increase from October's final close. However, profit-taking caused the stock to decline by 14.64 percent on Wednesday and another 0.49 percent on Thursday. It experienced a slight rebound of 0.25 percent on Friday, closing at 203,500 won.