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Companies

Korean Air's Cho family faces call for outside managers at chaebol

Activist fund pushes for asset sales and debt reduction at Hanjin

Korean Air Lines Chairman Cho Yang-ho arrives at a court in Seoul in July last year.   © Reuters

SEOUL -- A South Korean activist fund is taking on the scandal-ridden Cho family, which controls Korean Air, with calls for the parent company to set up an independent committee to appoint top management.

Korea Corporate Governance Improvement is also pushing the Hanjin Group to sell its underperforming hotel chain and cut debt in a bid to drive value for investors.

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