By Joyce Lee and Hyunjoo Jin
SEOUL (Reuters) – Days after photos of broken windows and smashed china hit the newsstands revealing a Christmas Day family squabble in the home of Korean Air’s late patriarch, an activist fund received an unsolicited offer to help unseat the current chairman.
Heather Cho, eldest daughter of the founding family’s late patriarch, made the proposal to Korea Corporate Governance Improvement (KCGI), the biggest shareholder of Korean Air’s (KS:) parent Hanjin Kal (KS:) to oust her younger brother, Walter.
“I didn’t meet her initially because I didn’t take it seriously when she said she was ready to give up everything,” Kang Sung-boo, who runs the $380 million fund that is pushing for board and management overhaul at the airline, told Reuters.
“I didn’t trust her until she agreed to take her hands off management.”
Heather Cho’s legal counsel did not comment on Kang’s recount of their discussions.
She is known for…