Delta Air Lines Inc. has increased its stake in Hanjin KAL Corp., the parent company of Korean AirLines Co., to above 9 percent. Yet the increase would not have a great impact on the price of Hanjin KAL shares for the moment as Delta Air said that it would not do anything that affects the company’s
The number of management participation-type private equity funds (PEFs) surpassed 600 this year, with total capital commitments exceeding 80 trillion won (US$67.06 billion).The number of PEFs stood at 636 as of the end of June this year, up 53 from 583 at the end of last year, according to the Finan
As the Moon Jae-in government has been pushing for chaebol reforms and strengthening regulations on corporate governance reforms after taking office, the number of cross-holding links among affiliates of conglomerates has decreased sharply. The number of companies subject to regulations designed to
The operating profits of listed companies affiliated with South Korea's top 10 business groups in the first half of this year dropped by 54 percent from the same period last year. The operating profits in the second quarter fell to nearly a third compared with a year ago.The combined operating p
The stock price of Hanjin KAL Corp., the holding company of Hanjin Group, continues to rise despite the recent crash of the South Korean stock market. Some say this might be a signal that another round of ownership battle has begun between Hanjin Group and the Korea Corporate Governance Improvement
Delta Air Lines Inc., the largest airline in the United States by market cap and sales, has begun to buy additional Hanjin KAL shares as it declared before. The move seems to suggest that the U.S. carrier did not simply come forward as a white knight for the beleaguered Hanjin Group but made an inve
Korea Corporate Governance Improvement (KCGI), a home-grown activist private equity fund which is seeking control of Hanjin Group, is planning to raise funds from foreign investors. It has taken out more loans against its Hanjin KAL shares and is attracting foreign investors to set up additional fun
Hajin Group has failed to attract enough buyers for its third public offering of bonds for this year.The group became the first non-financial conglomerate in Korea to suffer under-subscription in bold offering this year.The group planned to raise 100 billion won (US$84.75 million) through the latest
Korean Air Lines Co. is investing a total of 11.50 trillion won (US$9.77 billion) to introduce 30 Boeing 787 planes. It marks the first major contract signed by Korean Air head Cho Won-tae since he was officially designated as Hanjin Group chairman.Korean Air will buy 20 Boeing 787-10 airplanes and
Korean institutional investors are scrambling to introduce the stewardship code which requires them to implement their fiduciary duties.The number of asset management firms, private equity funds and securities firms which adopted the stewardship code as of June 13 totaled 97, according to the data f
Korea Corporate Governance Improvement Fund (KCGI) has increased its stake in Hanjin KAL Corp. to 16 percent.Grace Holdings Ltd., a special purpose firm of the Seoul-based activist fund, announced on May 28 that its stake in Hanjin KAL increased from 14.98 percent on April 24, the previous reporting
Hanjin Group’s new chairman Cho Won-tae, who was confirmed by the Korean Fair Trade Commission as the group’s ultimate decision maker, will debut on the international stage as chairman of the Annual General Meeting of the International Air Transport Association (IATA) to be held in Seoul next month.
The Fair Trade Commission has announced the list of large business groups that are subject to the disclosure regulations under the Monopoly Regulation and Fair Trade Act. The list included 59 business groups with assets exceeding 5 trillion won (US$4.2 billion). These groups have a total of 2,103 af
Cho Won-tae, chairman of Hanjin KAL, has been confirmed as Hanjin Group’s next chairman.Hanjin Group announced on May 13 that it filed a formal application with the Korea Fair Trade Commission (FTC) to change the group’s chairman from the late Cho Yang-ho to his son Cho Won-tae.Analysts say that the
A management succession process has been underway at Hanjin Group following the sudden death of the late chairman Cho Yang-ho. Yet signs of a sibling conflict among Cho’s three children over the group’s control have surfaced.The Fair Trade Commission (FTC) said on May 8 that it will postpone its ann
As Hyundai Merchant Marine Co. (HMM) has been struggling with losses for 15 quarters in a row, creditors, including Korea Development Bank (KDB), are paying keen attention to the firm’s Q1 earnings results to be announced in the middle of this month. The ailing shipping company is expected to post a
Hanjin Group has named Cho Won-tae, the only son of the late group chairman Cho Yang-ho and president of Korean Air Lines Co., as its new chairman.Hanjin KAL, the group’s holding company, announced on April 24 that its board of directors has appointed the junior Cho as the next chairman of the group
South Korean shipping line Hyundai Merchant Marine Co. (HMM) is desperate to normalize its operations under its new president. The company is pinning hopes on the 12 mega container ships with a 23,000-TEU capacity that it will secure next year. HMM is struggling in the face of higher oil prices, low
After the death of Hanjin Group chairman Cho Yang-ho, Hanjin Group is caught in the trap of inheritance taxes. This is because Cho Won-tae, his son and president of Korean Air Lines Co., would have to give up his management rights and sell part of the stakes he inherits to pay inheritance taxes, whi
Hanjin Group is expected to face difficulties in the process of transferring the management control from the late chairman Cho Yang-ho to Cho Won-tae, his son and president of Korean Air. The junior Cho has only a 2.34 percent stake in Hanjin KAL Corp., the holding company of the group, and it will