Korean Air President Cho Won-tae appointed chairman of Hanjin Group
The decision was made at a board meeting of Hanjin Kal, the holding unit of Hanjin Group, on Wednesday. The group decided not to hold a separate inauguration ceremony.
"We hope to shorten the length of the leadership vacuum through the appointment and also to stabilize the group's management," the Hanjin Kal board said in statement.
Cho is both chairman of the board at Hanjin Kal and chairman of Hanjin Group, an honorific title given to the member of a chaebol’s owner family that runs the group.
Cho said he will inherit the "management vision shared by previous chairs of the group and help the company grow further" at the board meeting after his appointment.
As he takes on his father's role, the new chair will also be the host of the International Air Transport Association's Annual General Meeting to be held in Seoul in June, Hanjin said.
BY KIM JEE-HEE [firstname.lastname@example.org]
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