Tuesday, August 13, 2024 Walter Cho, the 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) during their 39th annual ceremony in Gyeongju on August 13. This recognition not only marks a significant personal achievement for Cho but also continues a family tradition of excellence, aligning him with past laureates including the company’s founder, Choong-hoon Cho, and former Chairman Yang-ho Cho. Founded in 1987, KASBA is a premier academic body in Korea that annually acknowledges business leaders who have demonstrated outstanding innovation and managerial prowess, contributing significantly to the nation’s economic advancement.
Walter Cho’s award-winning leadership has been particularly noted for his adept handling of the global aviation downturn during the 2020 pandemic and his strategic acquisition of Asiana Airlines, which bolstered the stability and growth of Korea’s aviation sector. Additionally, his commitment to environmental, social, and governance (ESG) principles and community engagement has been highly praised by KASBA. “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.” Walter Cho has been a prominent figure in the global aviation sector for over two decades, accruing extensive experience by working across vital operational domains such as the Passenger Business, Corporate Strategy and Planning Division, and Cargo Business of Korean Air. He ascended to the role of president in 2017 and was elevated to Chairman and CEO of Korean Air and Hanjin Group in 2019.
As the leader of these organizations, Cho has been pivotal in spearheading innovation and adapting business strategies to reinforce the companies’ foundational strengths. His leadership was particularly evident in 2020 when, amid the pandemic, he quickly adapted by transforming passenger jets for cargo use and introducing forward-thinking cargo strategies to mitigate the slump in passenger travel. From 2019 to 2023, Walter Cho chaired the SkyTeam Alliance Board and he continues to serve on the International Air Transport Association (IATA) Board of Governors, which sets the direction for the airline industry.
His strategic initiatives included 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 committed substantial resources towards 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 stewardship, Korean Air has significantly boosted 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, earning recognition both locally and globally. Cho’s tenure as CEO has been marked by efforts to cultivate a dynamic, efficient, and cooperative corporate culture, introducing initiatives that enhance employee welfare and workplace conditions.
His leadership excellence has been acknowledged 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..
