Hanjin Group Chairman Cho Won-tae
Shareholders of Hanjin KAL, the holding company of logistics-to-airline conglomerate Hanjin Group, have approved the reappointment of the group's heir apparent as a member of its board.
Hanjin Group Chairman Cho Won-tae preserved his board seat after garnering 56.67 percent approval.
His current position has been challenged by a coalition led by his elder sister, Cho Hyun-ah, who in January led an alliance involving Korea Corporate Governance Improvement fund and Bando Engineering & Construction to oust him from the management position.
During the dispute, the Hyun-ah coalition had argued that inviting a professional manager would help improve the group's management, financial status and shareholder value.■
<Image: Yonhap News>
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