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The Korea Herald

The Boardroom

March 10, 2021
NPS to remain neutral over embroiled Posco chief's second term

The National Pension Service said on March 10 it would engage in voting for Posco chairman and chief executive officer Choi Jeong-woo’s new term as a Posco board member, in a way that does not affect the result of shareholder voting on March 12. The decision not to vote against Choi comes as a ...
November 30, 2020
Korean Air to sell Incheon yacht marina

Korean Air Lines is inching closer to selling its yacht marina operation in Incheon to a new Korean buyer for roughly 130 billion won ($117 million). The investor group of Consus Asset Management and Mirae Asset Daewoo said on Nov. 30 it has signed a memorandum of understanding as a preferred bid...
November 25, 2020
Business groups seek next leaders as terms end soon

South Korea’s major business organizations will see the terms of their incumbent chiefs end early next year, with attention being paid to who their successors will be. The term of Korea Chamber of Commerce and Industry Chairman Park Yong-maan, Korea International Trade Association Chairman Kim Y...
November 18, 2020
Hanjin chief defends merger amid criticism

Hanjin Group Chairman Cho Won-tae said on Nov. 18 that the merger of the nation’s two largest carriers, Korean Air and Asiana Airlines, will not lead to a price hike or workforce restructuring. After attending the Korea-US Business Meeting at the Federation of Korean Industries in Seoul, Cho tol...
November 17, 2020
KCGI criticizes Hanjin KAL chief over merger plan

South Korean activist private equity fund KCGI on Nov. 17 lashed out at Korean Air‘s plan of acquiring its rival Asiana Airlines with the policy lender’s help, claiming that the scheme is being pursued to cement Hanjin KAL chairman Cho Won-tae’s control over the air carrier. Hanjin KAL is the ho...
April 20, 2020
Young owner family executives, many of them women, emerging in Korean business world

Compared with years past, more of the executives from owner families at South Korea’s conglomerates are women or members of the younger generation, data from a local corporate tracker showed on April 20. Six group chairpersons were born since 1970 and nearly a quarter of the conglomerates’ 150 ...
March 18, 2020
‘Proxy advisers KCGS and ISS have lost objectivity on Hanjin’

Major shareholders of logistics giant Hanjin KAL on Wednesday rebelled against proxy advisory firms Korea Corporate Governance Service and Institutional Shareholder Service for their decision to support the extension of Chairman Cho Won-tae’s term. The group consists of his elder sister and for...
March 17, 2020
Kakao sells part of stake in Hanjin KAL

South Korean internet giant Kakao has sold part of its stake in Hanjin KAL, having previously been expected to support Cho Won-tae in a family feud over the control of Hanjin Group, according to industry sources on March 16. KaKao’s stake in Hanjin KAL, the holding entity of Hanjin Group, is no...
March 02, 2020
KCGI woos Delta Air Lines for Hanjin control

A coalition led by South Korea’s activist private equity fund Korea Corporate Governance Improvement called Delta Air Lines a “partner” in its pursuit for a control over Hanjin Group and its crown jewel Korean Air in a note March 2. This reflects KCGI’s drastic turn from the previous week whe...
February 27, 2020
Hanjin Group to sell hotel assets for financial health

Hanjin KAL, the holding company of airline-to-logistics conglomerate Hanjin Group, said Thursday it was looking to sell its non-core hotel assets to improve its financial health and shareholder value. Hanjin KAL said invitations to bid for the assets had been sent to 12 firms including real estat...
February 24, 2020
Delta hikes stake in Hanjin KAL in support of chairman

Delta Air Lines, the third-largest shareholder of Hanjin KAL which owns Korean Air, has bought 1 percent additional stake to support Hanjin Group Chairman Cho Won-tae, industry sources said on Feb. 24. The US air carrier reportedly bought 114 shares of Hanjin KAL stake on Thursday and Friday ...
February 18, 2020
Anti-chairman coalition falters at Hanjin with withdrawal from director candidate

Kim Chi-hoon, a former Korean Air executive director who was proposed as one of the inside directors for Hanjin Group, said Tuesday he was voluntarily resigning from the candidacy. His withdrawal deals a blow to a coalition formed by Hanjin Group heiress Cho Hyun-ah to counter her brother, Chairman...
August 12, 2019
Kolmar Korea under pressure despite swift risk management

Despite the chairman's apology and resignation for showing a controversial far-right video to employees, shares of Korea Kolmar, a cosmetics and health care company, continued to fall on Aug. 12 as consumers turned their back on its products. On Aug. 11, just two days after the media reported that...
August 11, 2019
Kolmar Korea president resigns, apologizes for controversial video

Yoon Dong-han, president of cosmetics and health care goods manufacturer Kolmar Korea, apologized and resigned on Aug. 11 after showing a controversial video praising Japan to employees last week. During a press conference at Kolmar Korea’s headquarters in Seoul, Yoon said he deeply regretted hi...
August 09, 2019
Kolmar Korea shares plunge amid criticism over president’s behavior

Kolmar Korea , a cosmetics and health care company based in Seoul, appears to have been hit by criticism of the company’s chairman for sharing a controversial YouTube video with employees. Shares of Kospi-listed Kolmar Korea and its holding company Kolmar Korea Holdings plunged more than 5 perce...

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