South Korea’s LS Group and Hanjin Group have effectively formed a “counter-Hoban alliance” to challenge Hoban Group, with which the duo has ongoing tensions.

The two groups signed a memorandum of understanding (MOU) for mutual growth on April 25th, 2025, that announced the partnership on Monday. They plan to generate synergies in areas including the aerospace industry, urban air mobility (UAM), and eco-friendly energy infrastructure. Specific plans include applying smart factory technology to enhance aerospace manufacturing and building UAM and electric vehicle charging networks.

Industry watchers interpret the move as a strategic check against Hoban. Hoban Construction, the second-largest shareholder of Hanjin Group’s holding company Hanjin KAL, recently opposed a proposal to increase directors’ remuneration, raising the possibility of management disputes. Meanwhile, LS Cable & System has been in conflict with Hoban Group subsidiary Taihan Cable & Solution over alleged technology leaks related to submarine cables.

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