Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, received the top management award from the Korean Academic Society of Business Administration (KASBA) at KASBA’s 39th management awards held in Gyeongju on August 13.
The award holds special significance as it extends a three-generation legacy with Walter Cho following in the footsteps of founder Choong-hoon Cho and the late Chairman Yang-ho Cho, both of whom were previous recipients of KASBA’s top management award.
KASBA, the nation’s leading academic institution for business studies, has presented this award annually since 1987. The accolade recognizes business leaders whose innovative entrepreneurship and exceptional management skills have made a significant impact on economic growth.
Walter Cho was recognized for his leadership and ability to respond to crises. Cho successfully navigated the global aviation crisis triggered by the pandemic in 2020, and maintained the sustainable growth of the domestic aviation industry through his bold decision to acquire Asiana Airlines. KASBA also commended Cho’s proactive environmental, social and governance (ESG) efforts and community outreach.
“Hanjin Group’s commitment to advancing the nation’s growth through transportation has been recognized once again,” said Walter Cho at the awards ceremony. “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.”
For more than two decades, Cho has been recognized as a leader in the global aviation industry. He gained industry insight by working across key areas critical to aviation operations, including leading the airline’s Passenger Business, Corporate Strategy and Planning Division, and Cargo Business. In 2017, he was appointed president, and in 2019, he assumed the role as Chairman and CEO of Korean Air and Hanjin Group.
As Chairman and CEO, Cho has been at the forefront of driving innovation and change at Korean Air and Hanjin Group, while reinforcing the companies’ core strengths. In 2020, amid the challenges of the pandemic, Cho demonstrated strategic leadership through swiftly converting passenger aircraft to cargo aircraft, implementing innovative cargo business strategies in response to the sharp decline in travel demand.
Walter 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, the highest policy-making body of the airline industry association. He also led the successful launch of Korean Air’s transpacific joint venture with Delta Air Lines in May 2018, expanding the airline’s network between the Americas and Asia.
To ensure long-term growth, Cho has also directed resources towards innovative aerospace businesses such as urban air mobility (UAM) and unmanned aerial vehicles (UAV), spanning from small drones to expansive reconnaissance platforms.
Under Cho’s leadership, the airline has significantly enhanced its commitment to ESG initiatives. Key efforts include integration of fuel-efficient, next-generation aircraft into its fleet and proactive steps to expand the use of sustainable aviation fuel (SAF). Additionally, the airline’s active engagement in community outreach, both domestically and internationally, has been positively recognized.
Since his appointment as CEO, Cho has been focused on fostering a flexible, efficient and collaborative organizational culture. He has introduced new policies aimed at enhancing employee welfare and improving the overall working environment.
Cho has received numerous awards for his outstanding leadership such as 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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