Former Korean Air Vice President Cho Hyun-ah Sells Part of Hanjin KAL Shares to KCGI

Cho Hyun-ah, former Vice President of Korean Air

[Asia Economy Reporter Dongwoo Lee] Former Korean Air Vice President Cho Hyun-ah has transferred part of her shares in Hanjin KAL to KCGI.

According to the Financial Supervisory Service's electronic disclosure system on the 17th, former Vice President Cho transferred 55,000 shares of Hanjin KAL through an over-the-counter transaction to KCGI. The transaction price was 61,300 KRW per share, totaling approximately 3.4 billion KRW.

With this over-the-counter transaction, it is estimated that former Vice President Cho's shareholding decreased from 3,837,394 shares (5.75%) to 3,782,394 shares (5.66%).

As KCGI received the shares from former Vice President Cho, there appears to be no change in the shareholding ratio of the three-party alliance.

However, some speculate that this sale might indicate former Vice President Cho's withdrawal from the management rights dispute over Hanjin KAL. Previously, the three-party alliance signed a joint stock holding agreement in January last year. According to this agreement, the three-party alliance cannot acquire or dispose of shares individually without consultation.

On the other hand, there is an opinion that this is to secure funds for inheritance tax amounting to 10 billion KRW annually.

This content was produced with the assistance of AI translation services.