The South Korean business dynasty that gained notoriety with the “nut-rage incident” is generating turbulence again.
Cho Hyun-ah, or Heather Cho, the eldest daughter of the founding family’s late patriarch, voiced her discontent over how her brother has been running the Hanjin conglomerate, whose units include flag carrier Korean Air Lines Co.
Walter Cho, the 43-year-old chairman of Hanjin Group and holding company Hanjin Kal Corp., has been running the companies without adequately consulting the rest of the family, violating their father’s wishes, she said in an emailed statement made through her lawyers.
It’s the first time that any member of the founding family publicly voiced discontent over the management of Hanjin since the patriarch, Cho Yang-ho, died in April. In November, the siblings inherited their father’s stake in Hanjin Kal in accordance with the law.
“Hanjin Group is being managed in a way that goes against the previous chairman’s wishes,” Heather Cho said in the sta..