Firms linked to Korean Air's parent fall, fund denies seeks mgmt change

Hanjin Logistics

19/11/2018 05:15

** Shares of Hanjin Kal Corp  180640.KS , Korean Air Line's
 003490.KS  parent, and Hanjin Transportation Co Ltd
 002320.KS , Hanjin Group's shipping arm, tumble as South Korean
activist fund KCGI denies speculation it is acquiring a stake in
Hanjin Kal to take over the company's management
    ** Hanjin Kal slumps 9.9 pct and Hanjin Transportation
slides 11.9 pct, after they rise as much as 7.6 pct and 6.5 pct
earlier in the session
    ** Korean Air Lines also drops as much as 4.2 pct
    ** KCGI says in a statement that Hanjin Kal is extremely
undervalued and there is a high chance of increasing enterprise
value through improvement in corporate governance
    ** The activist fund adds it will faithfully take part in
monitoring and checking Hanjin Kal as a major stakeholder rather
than threatening a change in leadership at the company
    ** Hanjin Kal and Hanjin Transportation surge on Friday
after KCGI buys a stake in Hanjin Kal, boosting hopes for better
corporate governance at Hanjin Group  urn:newsml:reuters.com:*:nL4N1XR1DN
    ** The broader market  .KS11  remains flat

 ((joori.roh.thomsonreuters.com@reuters.net))