Hanjin chair raises stake in Korean Air parent amid Hoban buildup

What happened: Hanjin Group Chair Walter Cho agreed to buy 325,000 Hanjin KAL shares via block trade, raising his camp's stake, as second-largest shareholder Hoban awaits FTC review after filing a business combination report. Key numbers: 325,000 shares for 37 billion won ($28 million), Dec. 3 to Jan. 1. Why it matters: Hoban judged its purchases may let it outrank the Cho camp, but industry officials note control will not change hands overnight given friendly holdings. Hanjin KAL denied Cho's purchase was linked to Hoban's buying.

Hanjin Group Chair Walter Cho agreed to buy 325,000 Hanjin KAL shares via block trade, raising his camp's stake, as second-largest shareholder Hoban awaits FTC review after filing a business combination report.

Hoban judged its purchases may let it outrank the Cho camp, but industry officials note control will not change hands overnight given friendly holdings. Hanjin KAL denied Cho's purchase was linked to Hoban's buying.