One of South Korea's biggest and well-known chaebol, Hanjin Group, which owns the country's flag carrier Korean Air will choose its next executive leader at a shareholders' meeting in the coming hours.
But a leadership change seems unlikely as current group chair Cho Won-tae looks set to stay at the helm, with around 37 percent of shareholders backing him.
This includes South Korea's state pension fund, which has a 2.9 percent stake in Hanjin.
That's bad news for his sister Cho Hyun-ah, the former vice president of Korean Air,… more widely known as the 'nut rage' heiress,… who has been at loggerheads with her brother and other relatives over management of Hanjin Group.
Cho Won-tae took the leadership position in April 2019 after the death of his father, Cho Yang-ho.