Hoban's Hanjin KAL stake gains $822 million in Nov. amid sharp share price swings
Hoban Group’s stake in Hanjin KAL, the holding company of Hanjin Group, gained an estimated 1.1 trillion won ($822 million) in market value this month through Friday, despite sharp share price swings. Its value also rose by about 265.2 billion won from Nov. 4, when Hoban was disclosed as the company’s largest shareholder. Hoban emerged as Hanjin KAL’s second-largest shareholder in 2022 and steadily increased its holdings before overtaking Hanjin Group Chairman Cho Won-tae and related parties. The Nov. 4 disclosure showed that Hoban and related parties held 13,814,053 common shares, or 20.69 percent, narrowly ahead of Cho’s bloc at 20.58 percent. Hanjin KAL shares climbed from 123,900 won on Oct. 30 to 184,300 won on Nov. 4, reaching a closing peak of 239,000 won on Tuesday, a 92.9 percent increase from October’s final close. Profit-taking subsequently pushed the stock down 14.64 percent on Wednesday and another 0.49 percent Thursday. It edged up 0.25 percent Friday to close at 203,500 won. Assuming Hoban’s disclosed shareholding remained unchanged, its stake was worth about 2.8
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