▲ Former Vice President of Korean Air


Han Myung-hee's advisor to Chung Seok-min and Han Hyun-kal, Cho Hyun-min, said they would support the chairman of the Hanjin Group. It was confirmed as.

Hanjin Kal's general meeting of shareholders, with the re-appointment of Chairman Cho's internal directors, has now been carried out by the Hanjin Group's family reunion against former Vice President Cho, who has collaborated with external forces. I'm going.

Mr. Lee and Executive Director Cho said, “I hope for the stability and development of the group as a member of the Hanjin Group as the largest shareholder. I support the current Hanjin Group's professional management system. Came up with a stance.

The former Hanjin Group's management system, including Chairman Cho, sought to resign from the chairman of the activist private equity fund KCGI. It is defined as' and it is solved by drawing a line.

For former Vice President Cho, who was different from his family, Mr. Cho said, "I can't help but feel sorry for the announcement that Mr. Cho was in solidarity with the outside forces. "I said.

The fact that Mr. Cho and his former executive, who had been silent for the first time, made the first official stance on the day, indicating that Cho and Hanjin Group were shocked by the external solidarity of former vice president.

Already inside and outside the group, "This adviser is finally on the side of President Cho," but there was a lot of excitement.

In particular, the so-called 'Christmas upheaval', which led to the dispute between President and the advisor, was released to the outside, and a disagreement was raised between the mothers and mothers. In view of this, it is clear that they have made clear their intentions.

Currently, Hanjin Kal's stake held by former vice president Cho, KCGI, and Peninsula E & C is 31.98% of the voting rights.

Chairman Cho gained 33.45% by adding shares of family members (22.45%), excluding former vice president, to shares of Delta Airlines (10.00%) and Kakao (1%) classified as 'friends'.

Hanjin Kal sets the agenda for dismissal and dismissal of directors as a general resolution.

The attendance rate for this year's shareholders may be higher than last year's (77.18%), given the widespread interest in group management disputes.

In other words, assuming a 40% stake in the agenda to pass the agenda, both sides should have at least a 7-10% stake.

Accordingly, voting rights of domestic and foreign institutional investors, including the National Pension Service (4.11%), will play an important role in the shareholders' meeting.

Yang Ji-hwan, a researcher at Daishin Securities, said, "The percentage of foreign shareholders, institutions, and minority shareholders will be used as variables." "Institutional investors, including the National Pension Service, are likely to exercise their voting rights based on reports from external advisors. The role of the advisory body will be highlighted. "

Yang said, “It is not easy to find a clear cause to oppose the resignation of CEO Cho Won-tae from an external advisory agency.” “To complement the weakness of former vice president Cho, Evaluation by external advisors will play an important role. "

The inclusion of minority shareholders can also be an important variable in the struggle between the two sides.

As a result, former Vice President Cho proposed a shareholder proposal based on the five-year plan for restoring trust of Hanjin Group, which KCGI proposed to Hanjin Kal, Hanjin, and major shareholders in January last year. It is known that is being prepared.

Chairman Cho also reportedly pondering ways to present shareholder-friendly contents, including increasing dividend payout.

(Photo = Yonhap News)