Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, has been honoured with the top management award by the Korean Academic Society of Business Administration (KASBA) during its 39th management awards ceremony in Gyeongju on August 13.
This award is particularly noteworthy as it continues a three-generation tradition, with Cho following in the footsteps of his predecessors, Choong-hoon Cho, the founder, and the late Chairman Yang-ho Cho, both of whom previously received KASBA’s top management award.
KASBA, a leading academic institution for business studies in South Korea, has been presenting this award annually since 1987. The award is given to business leaders who have demonstrated innovative entrepreneurship and exceptional management skills, contributing significantly to economic growth.
Cho was recognised for his leadership and crisis management during the global aviation crisis sparked by the pandemic in 2020. His decision to acquire Asiana Airlines was highlighted as a bold move that sustained the growth of the domestic aviation industry. KASBA also acknowledged his proactive efforts in environmental, social, and governance (ESG) practices, as well as his community engagement.
Speaking at the ceremony, Walter Cho stated, “Hanjin Group’s commitment to advancing the nation’s growth through transportation has been recognized once again. Looking ahead, our goal is to continue laying a strong foundation for growth in our industry and society, driving progress and making a positive impact.”
Cho has been a prominent figure in the global aviation industry for over two decades, gaining extensive experience by working across critical areas such as Passenger Business, Corporate Strategy and Planning, and Cargo Business. He was appointed president in 2017 and became Chairman and CEO in 2019.
Under his leadership, Korean Air and Hanjin Group have seen significant innovation and change. During the pandemic, Cho displayed strategic acumen by converting passenger aircraft to cargo planes and implementing innovative strategies to counter the decline in travel demand.
Walter Cho served as the Chairman of the SkyTeam Alliance Board from 2019 to 2023 and is a member of the International Air Transport Association (IATA) Board of Governors. He also led the successful launch of Korean Air’s transpacific joint venture with Delta Air Lines in 2018, enhancing the airline’s network between the Americas and Asia.
In pursuit of long-term growth, Cho has directed resources towards innovative aerospace ventures, including urban air mobility (UAM) and unmanned aerial vehicles (UAV).
Under Cho’s leadership, Korean Air has strengthened its commitment to ESG initiatives, integrating fuel-efficient, next-generation aircraft into its fleet and expanding the use of sustainable aviation fuel (SAF). The airline’s engagement in community outreach has also been positively acknowledged.
Walter Cho has received several accolades for his leadership, including Air Transport World’s 2023 Excellence in Leadership Award, FlightGlobal’s 2022 Air Cargo Leadership Award, and Orient Aviation’s 2021 Person of the Year.
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