Shares of Hanjin Kal are soaring as competition for its largest shareholder position heats up between Hanjin Group and Hoban Group.
According to the Korea Exchange, as of 9:05 a.m., Hanjin Kal's stock rose 9.35% (12,300 won) to 147,400 won. At the same time, Hanjin Kal's preferred shares also increased by 25.33% (7,000 won) to 37,000 won, briefly hitting the daily limit of 30% shortly after the market opened.
The surge in stock prices is attributed to Hoban Group's recent move to increase its stake in Hanjin Kal, signaling a more active role in management. Hoban Group reportedly filed for corporate merger approval with the Fair Trade Commission last month regarding its additional acquisition of Hanjin Kal shares. The exact shareholding percentage and any changes to the largest shareholder status have not yet been officially confirmed.
* This article has been translated by AI.
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