Hoban tops 20% in Hanjin KAL, narrows gap with Cho

Korean construction company Hoban Group has raised its stake in Hanjin KAL, the holding company of Korean Air parent Hanjin Group, to more than 20 percent, narrowing the gap with the controlling shareholder bloc led by Hanjin Group Chair Walter Cho to less than 1 percentage point.

In a regulatory filing Friday, Hoban disclosed that its stake in Hanjin KAL had risen to 20.15 percent from 18.46 percent, after affiliates purchased an additional 1.13 million shares on the open market.

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