'Nut rage' heiress takes on brother in South Korea succession feud

Former Korean Air executive Cho Hyun-Ah , pictured in 2015, is battling her brother for control of the family airline AFP/Jung Yeon-jeSEOUL: The"nut rage" heiress who forced a plane to turn back over her macadamias is fighting a bitter battle - with activist shareholder support - against her brother for control of the family airline, highlighting resistance to reform in South Korea's chaebols.

She has joined forces with an activist investment fund, Korea Corporate Governance Improvement , which says better chaebol management will improve efficiency, employee engagement, and shareholder returns. Korean Air has lost 1.74 trillion won in five years, according to KCGI's Lee, who accuses Cho Won-tae of"repeated strategic mistakes".

There was"no disagreement" that Cho Won-tae was"the right businessman to weather the coronavirus crisis", it added in a statement, saying he had demonstrated"excellent business performance".The battle is on a knife-edge. Between them, Cho Hyun-ah, KCGI and ally Bando Engineering and Construction will have 32.03 per cent of voting rights at next week's Hanjin Kal annual meeting, when Cho Won-tae's fate will be decided.

And their political connections have proved increasingly controversial - Samsung scion Lee Jae-yong was jailed for his role in the corruption scandal that brought down president Park Geun-hye.

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Crazy family for power

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