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[THE INVESTOR] Hanjin Group Chairman Cho Yang-ho’s only son and youngest daughter have taken over key posts in the transportation conglomerate, accelerating the succession of ownership to the next generation.
The group announced Aug. 3 that his son Cho Won-tae, who is vice chairman of Korean Air, has been named as a director of Jungseok -- a private real estate management firm that is a core company in the group’s corporate governance structure -- “to strengthen responsible management for the subsidiary.”
The group announced Aug. 3 that his son Cho Won-tae, who is vice chairman of Korean Air, has been named as a director of Jungseok -- a private real estate management firm that is a core company in the group’s corporate governance structure -- “to strengthen responsible management for the subsidiary.”
The chairman’s daughter Cho Hyun-min has been named president of Hanjin Travel, and will jointly manage the company with incumbent President Kwon O-sang.
The siblings have resigned from their executive posts at another Hanjin affiliate TOPAS.
Since the much-hyped exit of their disgraced sister Cho Hyun-ah over Korean Air’s “nut rage” scandal, Won-tae has been consolidating his position as the heir apparent. He has already been appointed to key posts at Hanjin KAL, the group’s holding company, as well as the flagship affiliate Korean Air, budget carrier Jin Air and Korea Airport Service.
By Hwang You-mee (glamazon@heraldcorp.com)
