SEOUL -- Hanjin KAL Chairman Cho Won-tae has held onto his position as a board director of the transport conglomerate despite a strong challenge from an alliance that included a local activist fund and his own sister.
Shareholders of Hanjin KAL, the holding company of Korean Air Lines, approved the re-appointment of Cho with 56.7% of votes at the annual general meeting on Friday, while 43.3% of shareholders voted against him. The appointment requires more than half of the votes from those at the meeting.
