The Hanjin group, which owns Korean Air, was in financial trouble long before current aviation woes. FMTNews Hanjin
Cho leaves court after receiving a suspended jail sentence over her ‘nut rage’ tantrum in 2015.
A series of scandals centring on abuse of subordinates rapidly made the Chos the South’s most vilified billionaires. Cho Won-tae inherited the chairmanship of the conglomerate’s holding company Hanjin Kal after the siblings’ father Cho Yang-ho – who led the successful bid for the Pyeongchang Winter Olympics – died last year.
Korean Air has lost 1.74 trillion won in five years, according to KCGI’s Lee, who accuses Cho Won-tae of “repeated strategic mistakes”. There was “no disagreement” that Cho Won-tae was “the right businessman to weather the coronavirus crisis”, it added in a statement, saying he had demonstrated “excellent business performance”.The battle is on a knife-edge. Between them, Cho Hyun-ah, KCGI and ally Bando Engineering and Construction will have 32.03% of voting rights at next week’s Hanjin Kal annual meeting, when Cho Won-tae’s fate will be decided.
And their political connections have proved increasingly controversial – Samsung scion Lee Jae-yong was jailed for his role in the corruption scandal that brought down president Park Geun-hye.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
21 new Covid-19 cases in Sabah, bringing total to 103Sabahans begin to stay home as movement control order takes effect. FMTNews Covid19
Read more »
MAS scales down operations in light of travel banSEPANG: Malaysia Airlines (MAS) will significantly reduce its overall operations, in view of the nationwide movement control order (MCO) by the government for the period between March 18 and March 31.
Read more »
South Korea reports 152 new coronavirus cases, total 8,565NSTworld: SouthKorea reported 152 new coronavirus cases on Thursday, taking the national tally to 8,565, the Korea Centers for Disease Control and Prevention said. Covid19
Read more »
Silence descends with government's control orderAreas usually bustling with activity fall silent as the government's movement control order to curb the spread of Covid-19 takes effect. FMTNews Covid19 Coronavirus PhotoGallery
Read more »
IJN operating as usual, despite MCO, Covid-19KUALA LUMPUR: The National Heart Institute (IJN) here will be operating as usual, despite the current status of Covid-19 and the Movement Control Order (MCO) which took effect midnight today.
Read more »
Violating movement control order is a criminal offence: Takiyuddin HassanKUALA LUMPUR: All quarters should comply with the movement control order that takes effect today until March 31 and breach of the order is a criminal ...
Read more »