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mercure1
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Korean Air Chairman Ousted

Thu Mar 28, 2019 7:42 pm

More drama in Korea.

Not only did Asiana lose its CEO this week, but Korean Air Chairman Cho Yang-ho was ousted from the boardroom of the country's largest airline on Wednesday and forced to resign as its chief executive as more than a third of shareholders opposed his re-election due to pending charges of tax evasion. Mr. Cho had a 27-year tenure at KE.

https://asia.nikkei.com/Business/Compan ... from-board
http://fortune.com/2019/03/27/korean-ai ... -scandals/
mercure f-wtcc
 
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janders
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 7:55 pm

Don't worry. There are more Cho's around. One of the sons still remains on the board as President and COO.
"We make war that we may live in peace." -- Aristotle
 
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kjeld0d
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 8:00 pm

Does Korean Air do the 25 year wristwatch thing? Or would it be a sack of macadamia nuts?
 
ITSTours
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 8:00 pm

janders wrote:
Don't worry. There are more Cho's around. One of the sons still remains on the board as President and COO.


That is why all Korean Air and Hanjin stocks, which soared after he was ousted, came back down. LOL. Markets really do not trust Cho's.
Last edited by ITSTours on Thu Mar 28, 2019 8:00 pm, edited 1 time in total.
 
Prost
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 8:00 pm

No nuts for you!
 
zakuivcustom
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 8:23 pm

janders wrote:
Don't worry. There are more Cho's around. One of the sons still remains on the board as President and COO.


Cho Won-tae is the only son of Cho Yang-ho (The other children are both daughters, the elder one (Cho Hyun-ah aka Heather Cho) being the "nut rage princess", the younger one (Cho Hyeon-min) being the one that throw water at subordinate). Cho Won-tae himself was in a scandal in which he got into Inha University without the qualifiaction with the university "twisting" the rule (Sounds familiar? Yep, it's not just US).

http://news.kbs.co.kr/news/view.do?ncd=4008207

In another word, the whole family is f**k up.
 
ewt340
Posts: 730
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Re: Korean Air Chairman Ousted

Thu Mar 28, 2019 10:01 pm

zakuivcustom wrote:
janders wrote:
Don't worry. There are more Cho's around. One of the sons still remains on the board as President and COO.


Cho Won-tae is the only son of Cho Yang-ho (The other children are both daughters, the elder one (Cho Hyun-ah aka Heather Cho) being the "nut rage princess", the younger one (Cho Hyeon-min) being the one that throw water at subordinate). Cho Won-tae himself was in a scandal in which he got into Inha University without the qualifiaction with the university "twisting" the rule (Sounds familiar? Yep, it's not just US).

http://news.kbs.co.kr/news/view.do?ncd=4008207

In another word, the whole family is f**k up.


They're probably heavily inbred. We called these people the "Capitalist Royals"
 
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LAXintl
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Re: Korean Air Chairman Ousted

Fri Mar 29, 2019 1:56 am

Unlikely you will get the Cho family out of the picture since family founded the conglomerate Hanjin Group and also directly hold 33.35% of KE shares themselves.
From the desert to the sea, to all of Southern California
 
juliuswong
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Re: Korean Air Chairman Ousted

Fri Mar 29, 2019 2:57 am

zakuivcustom wrote:
janders wrote:
Don't worry. There are more Cho's around. One of the sons still remains on the board as President and COO.


Cho Won-tae is the only son of Cho Yang-ho (The other children are both daughters, the elder one (Cho Hyun-ah aka Heather Cho) being the "nut rage princess", the younger one (Cho Hyeon-min) being the one that throw water at subordinate). Cho Won-tae himself was in a scandal in which he got into Inha University without the qualification with the university "twisting" the rule (Sounds familiar? Yep, it's not just US).

http://news.kbs.co.kr/news/view.do?ncd=4008207

In another word, the whole family is f**k up.

This reminds me of the recent Korean drama Sky Castle. What an eye opener.....
- Life is a journey, travel it well -
 
c933103
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 5:11 am

And the former chairman is now dead
Say NO to Hong Kong police's cooperation with criminal organizations like triad.
 
Ishrion
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 5:30 am

 
juliuswong
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 5:56 am

The battle for management control will start now......Would be interesting to watch.
- Life is a journey, travel it well -
 
DTWorld
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 6:28 am

juliuswong wrote:
The battle for management control will start now......Would be interesting to watch.


Somebody fetch me a bag of popcorn macadamia nuts. :duck:

While I am sorry for their loss, I do hope this may enable KE to modernize their product a bit more. Yes I recognize their fleet is fairly modern, but would it kill them to at least update their safety video that looks ridiculously dated?
 
raylee67
Posts: 675
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 1:22 pm

He was not just ousted.

It's just announced that he has died too.

https://edition.cnn.com/2019/04/08/busi ... index.html
319/20/21 332/33 342/43/45 351 388 707 717 732/36/3G/38/39 74R/42/43/44/4E/48 757 762/63 772/7L/73/7W 788/89 D10 M80 135/40/45 175/90 DH1/4 CRJ/R7 L10
AY LH OU SR BA FI
AA DL UA NW AC CP WS FL NK PD
CI NH SQ KA CX JL BR OZ TG KE CA CZ NZ JQ RS
 
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william
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 1:26 pm

raylee67 wrote:
He was not just ousted.

It's just announced that he has died too.

https://edition.cnn.com/2019/04/08/busi ... index.html


The whole embarrassment must have broke him..............sad.
 
ALTF4
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Re: Korean Air Chairman Ousted

Mon Apr 08, 2019 1:26 pm

raylee67 wrote:
He was not just ousted.

It's just announced that he has died too.

https://edition.cnn.com/2019/04/08/busi ... index.html


Read the thread. :roll:
The above post is my opinion. Don't like it? Don't read it.
 
HeeseokKoo
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Re: Korean Air Chairman Ousted

Tue Apr 09, 2019 1:15 am

I feel bad for him. Although some of the family members made noise occasionally, without the family's hardline to the others, KE wouldn't have survived. KE is constantly feeling pressure from politicians and celebrities for free upgrades. Or even free tickets and sponsorships. Only the famous attitude like the daughter has can repel them.

KE hadn't had a cozy relationship with government. Last government basically forced to close hanjin shipping, part of KE. This government also gave KE a hard time. It may be a stretch, but it's the government who kicked him out last week. I think his death will stop the government's hatred against KE.

While the family still owns 1/3 of the whole company, once they pay the estate tax that is nearly 50%, the ownership will go down significantly, likely to 1/5.
 
bcbhokie
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Re: Korean Air Chairman Ousted

Tue Apr 09, 2019 6:26 am

DTWorld wrote:
juliuswong wrote:
The battle for management control will start now......Would be interesting to watch.


Somebody fetch me a bag of popcorn macadamia nuts. :duck:

While I am sorry for their loss, I do hope this may enable KE to modernize their product a bit more. Yes I recognize their fleet is fairly modern, but would it kill them to at least update their safety video that looks ridiculously dated?


This is the #1 easiest thing KE could do to modernize the onboard experience. Korea has incredibly talented video producers that consistently produce engaging 100+ million view music videos for pop groups, and the hallyu “Korean wave” pop cultural influence is widely known throughout the region. And somehow instead the first welcome you receive onboard a KE flight is... a video you’d expect to have been developed to show on an overhead projector on an L-1011.

Seriously, I have to believe a single phone call to one of the major record labels would result in an easy partnership to produce something better that might not even cost them anything!
 
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PolarRoute
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Re: Korean Air Chairman Ousted

Tue Apr 09, 2019 12:32 pm

HeeseokKoo wrote:
Although some of the family members made noise occasionally, without the family's hardline to the others, KE wouldn't have survived.


So does that justify throwing a cup of water at someone’s face, or the Nut Rage, which was essentially a terror, or any other immoral actions that they’ve taken? No it doesn’t.

KE is constantly feeling pressure from politicians and celebrities for free upgrades. Or even free tickets and sponsorships. Only the famous attitude like the daughter has can repel them.


1. KE is not being forced into such a sponsorship. Politicians righteously take what they paid for from the govn’t contract. It was discussed during the nut rage.
2. Even if politicians were to demand free upgrades, Cho family isn’t really likely to rightfully repel them.. rather, they’re gonna take their chance and appease whomever the demander may be..
3. The family’s attitude only works its way down through the social hierarchy, not up. They are not going to shout at politicians and call them names.

KE hadn't had a cozy relationship with government. Last government basically forced to close hanjin shipping, part of KE.


That was the result of poor management, not the government.

It may be a stretch, but it's the government who kicked him out last week.


It is a stretch. A massive one.

I think his death will stop the government's hatred against KE.


Will his death fire up your hatred against the govnt even more..?

What an odd post.
 
c933103
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Re: Korean Air Chairman Ousted

Tue Apr 09, 2019 12:52 pm

bcbhokie wrote:
This is the #1 easiest thing KE could do to modernize the onboard experience. Korea has incredibly talented video producers that consistently produce engaging 100+ million view music videos for pop groups, and the hallyu “Korean wave” pop cultural influence is widely known throughout the region. And somehow instead the first welcome you receive onboard a KE flight is... a video you’d expect to have been developed to show on an overhead projector on an L-1011.

Seriously, I have to believe a single phone call to one of the major record labels would result in an easy partnership to produce something better that might not even cost them anything!

That's easier said than done nowadays given the massive scandal they're just having in the Korean entertainment industry and where major record labels and those who behind them are seen as privileged groups abusing their money and power to infringe many different laws (and the sad thing is many of those allegations are probably true) it doesn't seems like a wise time for KE with their current corporate image to cooperate with them
Say NO to Hong Kong police's cooperation with criminal organizations like triad.
 
zakuivcustom
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Re: Korean Air Chairman Ousted

Tue Apr 09, 2019 1:24 pm

HeeseokKoo wrote:
KE hadn't had a cozy relationship with government. Last government basically forced to close hanjin shipping, part of KE.


Instead of bailing them out like the good 'ol days, that is. South Korea is finally moving towards the badly needed next step IMHO.

And BTW the gov't didn't "forced" them to close, the banks (creditors) that Hanjin own money to did.

c933103 wrote:
That's easier said than done nowadays given the massive scandal they're just having in the Korean entertainment industry and where major record labels and those who behind them are seen as privileged groups abusing their money and power to infringe many different laws (and the sad thing is many of those allegations are probably true) it doesn't seems like a wise time for KE with their current corporate image to cooperate with them


Somewhat off topic, but the K-Pop "scandal" involved stuff that people know were going on but just turn a blind eye to anyway (i.e. the scandal involving Seungri of Bigbang). Before one go into the current scandal, let's also remember the rumored "black list" from Park Geun-hye administration (before she got kicked out), just to show how those big money in entertainment industry and the gov't are so intertwine with each other.

Plus the like of Song Joong-ki being the "image person" fits better for LCCs anyway (see Jeju Air...)
 
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LAXintl
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Re: Korean Air Chairman Ousted

Tue Jun 04, 2019 4:13 am

CEO Walter Cho says they are still working out details of Hanjin Group ownership structure, but goal was to maintain family harmony as late chairmans wife, two sisters and himself could maintain equal stakes.

https://www.google.com/amp/s/finance.ya ... 19849.html
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