Chairman Cho Won-tae Named 'Person of the Year' by Leading Asia-Pacific Aviation Magazine

Selected as Asia-Pacific's First Aviation Magazine 'Orient Aviation'
Recognized for Six Consecutive Quarters of Profit Amid COVID-19 Crisis and Decision to Acquire Asiana Airlines

[Asia Economy Reporter Yu Je-hoon] Cho Won-tae, Chairman of Hanjin Group, has been selected as the 'Person of the Year' by an Asia-Pacific region aviation specialized media. Despite the crisis of the COVID-19 pandemic, he led six consecutive quarters of profit growth through expanding cargo operations and showed bold decisiveness and leadership by deciding to acquire Asiana Airlines.

According to Hanjin Group on the 2nd, Chairman Cho was recently chosen as the '2021 Person of the Year' by Orient Aviation, a leading aviation magazine in the Asia-Pacific region. Orient Aviation, headquartered in Hong Kong, is the first aviation specialized magazine in the Asia-Pacific region and has selected the top CEOs in the Asian aviation industry who have shown outstanding achievements each year since 1999 as the Person of the Year.

The selection of this year's Person of the Year is attributed by the industry to Chairman Cho's leadership shown during the aviation industry's worst-ever crisis caused by COVID-19.

Chairman Cho demonstrated leadership by boarding charter flights transporting Korean residents from Wuhan, China, in the early stages of COVID-19. While passenger routes were shut down due to the pandemic, he increased the utilization rate of the cargo fleet, contributing to Hanjin being the only major global airline to maintain six consecutive quarters of profitability. Furthermore, amid the global aviation industry's financial difficulties, he decided to acquire Asiana Airlines in preparation for the 'post-COVID' era.

Regarding this award, Chairman Cho stated, "This Person of the Year selection would have been impossible without the dedication, effort, and collaboration of our employees during the uncertain situation of COVID-19. I would like to express my gratitude to all employees who innovated the business environment and made wise decisions to adapt to this unprecedented new environment."