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HYK condemns promotion of Hanjin s water rage heiress
Posted : 2021-01-21 16:05
Activist fund considers lawsuit against Hanjin Transportation
By Park Jae-hyuk
HYK Partners, the activist fund that is Hanjin Transportation s second-largest shareholder with a 9.79 percent stake, has publicly condemned the logistics company s recent decision to appoint Hanjin Group heiress Emily Lee Cho as the subsidiary s vice president.
The private equity firm (PEF) also disclosed the full text of a shareholder proposal it sent Wednesday to Hanjin Transportation s board of directors.
This was the first time for HYK to unveil details about its requests. When the PEF sent its first proposal to the logistics firm last December to call for the reform of its governance structure and an increase in shareholder value, both sides declined to disclose the specifics.