{
  "id": 17955583,
  "title": "Hoban Eyes Hanjin KAL Board Seat",
  "url": "https://urgent.news/2026/11/03/hoban-eyes-hanjin-kal-board-seat",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-03T11:44:51.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=280375"
  },
  "original_language": "en",
  "account": "The Hanjin Group, chaired by Cho Won-tae, has seen an increase in its stake in Hanjin KAL following additional purchases. As a result, there is a possibility that the Hoban Group may attempt to gain a seat on the board of directors at the upcoming shareholder meeting in March. Three Hanjin KAL directors' terms will expire in March, and Hoban Group currently holds approximately 20% of the shares, which may allow them to use cumulative voting to enter the board. However, the shareholding structure makes it challenging for a Hoban figure to be appointed as a general director. The Korea Development Bank, holding 10.58% of the shares, and the National Pension Service, holding 5.11%, could influence the outcome of the audit committee member vote. If Hoban can secure two seats through cumulative voting, they would hold more than one-third of the voting rights. To achieve this, Hoban would need to gather about 12% more votes from friendly allies. The voting threshold has been lowered due to an amendment to the articles of incorporation, making it easier for Hoban to appoint an audit committee member. Chairman Cho has recently purchased 325,000 common shares of Hanjin KAL, increasing his stake to around 21.05%, potentially making him the largest shareholder. If Hoban divides its stake among affiliates, the voting rights they can exercise would be even more substantial. Despite opposition from the National Pension Service, Hoban's support from friendly shareholders and favorable voting conditions could make it difficult for Chairman Cho's side to regain control of the audit committee appointment.",
  "summary": "Assessments suggest that the possibility of a management dispute with Hoban Group has practically become slim as Hanjin Group Chairman Cho Won-tae purchased additional stakes in Hanjin KAL. Accordingly, speculations are raised that Hoban Group may attempt to enter the board of directors at the regul",
  "key_points": [
    "Hanjin Group's stake in Hanjin KAL increases, raising Hoban Group's potential board seat chances.",
    "Three Hanjin KAL directors' terms expire in March, making board seat acquisition possible.",
    "Hoban Group could secure audit committee member seat with additional votes and favorable conditions."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}