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Scandal-ridden Hanjin Group desperate to appease shareholders

South Korean conglomerate sets financial targets ahead of annual meeting

Korean Air Lines pilots and members of the public go incognito in a march against abuse of power by the chairman's family in May 2018.   © Reuters

SEOUL -- Hanjin Group, one of South Korea's vast conglomerates, hopes to quiet a public outcry over a spate of scandals involving members of its founding family and escape the pressure from an activist fund that rumors say has ties to the current government.

In an unusual move for a chaebol, as the conglomerates are known, the group has compiled a five-year management plan that, among other things, calls for boosting annual sales by more than 30%. The group has also unveiled plans to cut debt at Korean Air Lines and increase the number of outside board members at its holding company.

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