The former executive board of Hanjin Group, which is undergoing a management dispute, said on Feb. 21 that it fully trusts and supports the current professional management led by Chairman Cho Won-tae.
"We could not stop our anger seeing Kang Sung-bu of KCGI making malicious distortions about Hanjin Group's management status recently," Hanjin Group's former executive board said in a statement.
"We are part of the lifetime commitment to the air transport industry, which is a national-period industry, and we believe that we can no longer remain silent for the development and future of the national economy as well as Hanjin Group," the board said.
The three-way coalition, which consists of former Korean Air vice president Cho Hyun-ah, KCGI (also known as the Kangsungbu Fund), and Bando Engineering & Construction, held a press conference on Feb. 20 to point out Chairman Cho Won-tae's management failure.
The executive group stressed, "Especially in the aviation industry, Hanjin Group`s flagship industry, the combination of complex elements of operations, rooms, and maintenance, makes it impossible to exclude the current management with expertise and replace it with other outsiders in the field."
"They can never expect normal management and development of Hanjin Group from KCGI, which is put together for their own self-interest," they also said. "We sincerely hope that the current management will stabilize management through stronger family harmony and continue the will of the late Chairman Cho Yang-ho."
