NPS, Hoban pose increasing management threat to Hanjin KAL

The National Pension Service (NPS) and Hoban Group are posing an increasing management threat to Hanjin KAL and its owner family ahead of the latter’s upcoming shareholders’ meeting slated for Thursday. The state-run pension system has decided to oppose Hanjin Group Chairman Cho Won-tae’s reappointment as an internal director during Hanjin KAL’s regular shareholders’ meeting. Hanjin KAL is the holding firm of Hanjin Group. The fund will also vote against the reappointment of Korean Air Vice Chairman Woo Kee-hong for the same position, citing “insufficient oversight” of actions that could undermine corporate value and infringe on shareholder rights. The NPS holds a 5.44 percent stake in Hanjin KAL. It also went on to criticize Cho for having been compensated excessively despite Korean Air’s massive earnings fall last year. He received a combined salary worth 14.58 billion won ($9.73 million) from Hanjin KAL, Korean Air, Asiana Airlines and Jin Air in 2025. The compensation is widely seen as unduly high, as Hanjin KAL recorded a deficit and Korean Air also reported a sharp

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