Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, was honored with the prestigious management award from the Korean Academic Society of Business Administration (KASBA) at their 39th annual ceremony in Gyeongju on August 13, 2024. This award, recognizing Cho’s exceptional leadership, continues a family tradition of excellence, following in the footsteps of the company’s founder, Choong-hoon Cho, and former Chairman Yang-ho Cho, who were also previous KASBA recipients.
Founded in 1987, KASBA is a leading academic organization in Korea that annually acknowledges business leaders who have demonstrated outstanding innovation and managerial prowess, significantly contributing to the nation’s economic progress. Walter Cho’s award-winning leadership has been particularly lauded for his adept handling of the global aviation downturn during the 2020 pandemic and his strategic acquisition of Asiana Airlines, which strengthened the stability and growth of Korea’s aviation sector. His commitment to environmental, social, and governance (ESG) principles and community engagement has also been highly commended by KASBA.
“Hanjin Group’s commitment to advancing the nation’s growth through transportation has been recognized once again,” stated 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.”
Walter Cho has been a prominent figure in the global aviation sector for over two decades, amassing extensive experience working across crucial operational areas like the Passenger Business, Corporate Strategy and Planning Division, and Cargo Business of Korean Air. He was appointed president in 2017 and elevated to Chairman and CEO of Korean Air and Hanjin Group in 2019.
As the leader of these organizations, Cho has been instrumental in spearheading innovation and adapting business strategies to bolster the companies’ fundamental strengths. His leadership was particularly evident in 2020 when, amidst the pandemic, he swiftly adapted by transforming passenger jets for cargo use and implementing forward-thinking cargo strategies to mitigate the slump in passenger travel.
From 2019 to 2023, Walter Cho chaired the SkyTeam Alliance Board and continues to serve on the International Air Transport Association (IATA) Board of Governors, setting the direction for the airline industry. His strategic initiatives include the successful launch of a transpacific joint venture with Delta Air Lines in May 2018, enhancing Korean Air’s connectivity between the Americas and Asia. Cho has invested substantial resources in next-generation aerospace ventures, including urban air mobility (UAM) and unmanned aerial vehicles (UAV), ranging from compact drones to large-scale surveillance platforms.
Under his leadership, Korean Air has significantly enhanced its commitment to environmental, social, and governance (ESG) practices. Notable achievements include the incorporation of fuel-efficient aircraft into the fleet and efforts to increase the usage of sustainable aviation fuel (SAF). The airline is also actively involved in community initiatives, garnering recognition both locally and globally.
Cho’s tenure as CEO has been marked by efforts to cultivate a dynamic, efficient, and collaborative corporate culture, introducing initiatives that improve employee welfare and workplace conditions. His leadership excellence has been recognized with several accolades, including Air Transport World’s 2023 Excellence in Leadership Award, FlightGlobal’s 2022 Air Cargo Leadership Award, and being named Orient Aviation’s 2021 Person of the Year.
