Hoban Group increased its stake in Hanjin KAL to 20.15% as of July 16, according to disclosures filed with Korea's Financial Supervisory Service. The conglomerate's subsidiaries Hoban Hotel & Resort and Hoban Industrial acquired an additional 919,074 shares this month. The move narrows the gap with Hanjin KAL's largest shareholder, Chairman Cho Won-tae and his affiliates, who hold 20.56%, to just 0.41 percentage points. Hoban has been accumulating shares since March 2022, when it initially acquired stakes from KCGI fund during a management dispute. The sustained share purchases occur as the integrated Korean Air, following its merger with Asiana Airlines, is scheduled to launch in December.
Hoban Group Invests 878 Billion Won in Hanjin KAL Over Four Years
Hoban Group's share accumulation in Hanjin KAL began in March 2022 with the acquisition of stakes from KCGI fund, which was engaged in a management dispute with Hanjin Group. In October 2023, Hoban acquired additional shares held by Pan Ocean. The group continued purchasing shares on the market throughout 2024 and 2025, maintaining its buying activity into this year. Over four years and four months, Hoban invested a total of 878 billion won in Hanjin KAL shares. The current value of the stake approaches 1.8 trillion won based on share price appreciation. Hoban Construction sold a portion of its holdings in December 2022 for 125.9 billion won, but the overall buying trend has remained consistent.
Hoban Group Holds 20.15% Stake Through Four Subsidiaries
The share purchases involve four Hoban Group entities. Initially, Hoban, Hoban Construction, and Hoban Hotel & Resort were the primary acquiring entities. The latest disclosure reveals Hoban Industrial joined as an additional purchasing entity. The group rotates its subsidiaries with available cash reserves to continue share acquisitions. Chairman Cho Won-tae and his affiliates currently hold 20.56% of Hanjin KAL, creating a 0.41 percentage point difference with Hoban Group's combined stake.
Investment Disclosed as Simple Investment Purpose
Hoban Group's disclosed investment purpose in Hanjin KAL is classified as "simple investment," which indicates no intention to participate in company management, focusing instead on dividends or capital gains. Simple investment status requires disclosure by the 10th of the following month for stake changes and does not mandate disclosure of funding sources. Market observers note Hoban Group previously pursued entry into the aviation industry in 2015 by attempting to acquire Kumho Industrial, then the parent company of Asiana Airlines. The integrated Korean Air is scheduled to officially launch in December following the completion of the Korean Air-Asiana Airlines merger.
FAQ
What percentage of Hanjin KAL does Hoban Group currently own?
Hoban Group holds 20.15% of Hanjin KAL shares as of July 16, according to disclosures filed with Korea's Financial Supervisory Service. This stake was accumulated through four subsidiaries: Hoban, Hoban Construction, Hoban Hotel & Resort, and Hoban Industrial.
How much has Hoban Group invested in Hanjin KAL shares?
Hoban Group invested a total of 878 billion won in Hanjin KAL shares over four years and four months, beginning in March 2022. The current value of the stake approaches 1.8 trillion won based on share price appreciation. Hoban Construction sold a portion of holdings in December 2022 for 125.9 billion won.
What is the gap between Hoban Group and Chairman Cho Won-tae's shareholdings in Hanjin KAL?
The shareholding gap between Hoban Group (20.15%) and Chairman Cho Won-tae and his affiliates (20.56%) is 0.41 percentage points as of July 16. Hoban Hotel & Resort and Hoban Industrial acquired an additional 919,074 shares this month, narrowing the previous gap.
