Suitors move up to starting line for race for Asiana air cargo arm
As Korean Air and Korea Development Bank gear up to select a preferred buyer for ...
© Brad Calkins
By Alex Lennane
The former chief of Korean Air, Cho Yang-ho, died this morning, just weeks after he was ousted from the business after 27 years. Now, his death could result in a battle for control of Hanjin Kap Corp. The family will have to pay inheritance tax amounting to the value of about half of Mr Cho’s 17.8% stake in the company. Mr Cho’s only son, current KAL president Cho Won-tae, is expected to be his successor, said Reuters.
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