Hoban Group is expected to become the largest shareholder of Hanjin Kal.
According to industry sources on November 2, Hoban Group filed a merger report with the Fair Trade Commission last month regarding Hanjin Kal. The company has recently acquired additional shares of Hanjin Kal, surpassing the stake held by the current largest shareholder, Choi Won-tae, chairman of Hanjin Group.
Under the Fair Trade Act, companies that acquire more than 15% of shares in a listed company or become the largest shareholder through additional purchases while already holding over 15% must file a merger report.
Hoban Group previously secured over 15% of Hanjin Kal's shares in 2022 and underwent a merger review. By July of this year, it increased its stake to 20.15%, closely trailing Choi's stake of 20.6%.
The merger review period is generally 30 days from the date of filing, with a possible extension of up to 90 days if necessary.
Hoban Group and Hanjin Kal are expected to disclose their exact shareholding relationship soon. Hanjin Kal stated in a clarification announcement that it would re-disclose specific details regarding Hoban Group's potential ascension as the largest shareholder by the end of this month or by November 1.
A Hoban Group official confirmed, "It is true that we filed a merger report with the Fair Trade Commission last month," but added, "It is currently difficult to disclose the exact shareholding figures."
* This article has been translated by AI.
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