Hoban, Harim suspected of joining forces against LS

Harim, Korea’s largest poultry processing company, appears to be supporting Hoban in the construction-to-media conglomerate’s apparent efforts to participate in the management of LS, which specializes in cables, power equipment, metal and machinery. According to a regulatory filing submitted earlier this week, Pan Ocean, the shipping subsidiary of Harim, acquired a 0.24 percent stake in LS Corp. for 12.3 billion won ($8.9 million) on May 16. Pan Ocean said its investment in LS Group's holding company is not intended to interfere with management. However, the investment has been widely interpreted as part of Harim’s efforts to assist Hoban, given their long-standing cooperation in various fields. In 2023, when Harim sought to acquire HMM, Korea’s largest container shipping company, Hoban attempted to finance the deal through a bond issuance. That same year, Hoban regained a 5.85 percent stake in Hanjin KAL, the parent company of Korean Air, from Pan Ocean, one year after selling the share to secure liquidity amid a real estate market slowdown. Industry officials expect Hoban, whicWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times