The Hanjin Group is a South Korean chaebol. The group has various industries covered from transportation and airlines to hotels, tourism, and airport businesses, and one of the largest chaebols in Korea. The group includes Korean Air (KAL), which was acquired by the founder Cho Choong-hoon in 1969, and was the owner of Hanjin Shipping before its bankruptcy. In 2013, Hanjin Group officially switched from cross ownership to a holding company structure with the establishment of Hanjin KAL Corporation. The group is controlled by descendants of Cho Choong-hoon, and many construction chaebols are the major shareholders of Hanjin KAL.
Hanjin headquarters
Korean Air/Hanjin Office in Minato, Tokyo, Japan as seen from the Tokyo Tower
A Korean Air Boeing 777-200ER landing at Vancouver International Airport
A chaebol is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Korean family-controlled corporate groups fall under this definition. The term first appeared in English text in 1972.
The former headquarters of Hyundai in Seoul
Former headquarters of the defunct Daewoo Group, once the second-largest conglomerate in South Korea
South Korean President Park Geun-hye at a breakfast meeting with business magnates Lee Kun-hee and Chung Mong-koo