Hoban Construction emerges as Hanjin KAL's largest shareholder

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SEOUL, Nov. 4 (Yonhap) -- Hanjin KAL, the holding company of Korean Air Co., said Wednesday Hoban Construction Co. has become its largest shareholder, overtaking Hanjin Group Chairman Cho Won-tae and related parties.

In a regulatory filing, Hanjin KAL said Hoban Construction and related parties had increased their combined stake to 20.69 percent, surpassing the 20.58 percent held by Cho and related parties.

The narrow margin of 0.11 percentage point leaves open the possibility of another change in the company's largest shareholder if Cho and related parties acquire additional shares.

In a move to strengthen his stake, Cho signed an agreement Monday to acquire an additional 325,000 Hanjin KAL shares for 37.05 billion won (US$27.7 million).

Hoban has recently purchased additional Hanjin KAL shares on the open market and filed a business combination notification with the Fair Trade Commission last month, raising speculation over a potential battle for control of South Korea's largest aviation group.

Hoban first acquired a 13.97 percent stake in Hanjin KAL from activist private equity firm KCGI in 2022 for approximately 564 billion won and has since expanded its holdings through affiliates, including Hoban Hotels & Resorts.

KCGI had previously challenged the Cho family's control of Hanjin Group.

Hoban Construction Co.'s headquarters in southern Seoul is seen in this undated file provided by the company. (PHOTO NOT FOR SALE) (Yonhap)

ejkim@yna.co.kr (END)

Hoban Construction emerges as Hanjin KAL's largest shareholder

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首尔，11月4日（韩联社）——大韩航空控股公司韩进KAL周三表示，浩邦建设公司已成为其最大股东，超过了韩进集团会长赵元泰及其关联方。

韩进韩国航空在一份监管​​文件中表示，浩邦建设及其关联方已将其合计持股比例增至 20.69%，超过了赵及其关联方持有的 20.58%。

0.11 个百分点的微弱差距意味着，如果 Cho 及其关联方收购更多股份，公司最大股东仍有可能再次发生变化。

为了加强其持股，赵某周一签署了一项协议，以 370.5 亿韩元（2770 万美元）的价格收购韩进 KAL 的 32.5 万股股份。

Hoban 近期在公开市场上增持了韩进航空的股份，并于上个月向公平交易委员会提交了业务合并通知，引发了人们对韩国最大航空集团可能出现控制权争夺战的猜测。

Hoban 于 2022 年首次从激进私募股权公司 KCGI 手中收购了韩进 KAL 13.97% 的股份，交易金额约为 5640 亿韩元，此后通过包括 Hoban Hotels & Resorts 在内的附属公司扩大了其持股规模。

此前，KCGI曾对赵氏家族对韩进集团的控制权提出质疑。

这张由浩邦建设公司提供的未注明日期的文件显示了该公司位于首尔南部的总部大楼。（照片非卖品）（韩联社）

ejkim@yna.co.kr (完)

Hoban Construction成为韩进KAL的最大股东