Since its founding as a holding company in 2013, Hanjin KAL has provided a wide range of services in investment, management consulting, licensing, real estate rental business, tourism, hotel operation, and is taking the lead in establishing transparent corporate governance. --- In August 2013, Hanjin Group officially switched to a holding company structure with the establishment of Hanjin KAL. This holding company was spun off from Korean Air, and since then Hanjin KAL has taken charge of investment, while Korean Air is responsible for air transport, aerospace, in-flight meal service and shopping, and limousine services. A holding company structure has a range of merits, such as enhancing the transparency of the corporate governance structure which increases corporate value from the market in a suitable way. In doing so, the company's independent management and objective performance assessment is stabilized by responsible management. In addition, a holding company can establish a system under which informed and rapid decision-making is tailored to each service it operates, strengthening business competitiveness and focusing the company's energy on specialized service capacity, pursuing diversification of management risks. As of the end of November 2017, Hanjin KAL has a total of eight subsidiary companies, including Korean Air, Hanjin Transportation Co., Ltd., Jin Air, KAL Hotel Network, JungSeok Enterprise Co., Ltd., TOPAS, Hanjin Travel, and Jedong Leisure. The major profit sources of Hanjin KAL are trademark rights, real estate rental, and dividends of its shares. Hanjin KAL respects the autonomy of its subsidiaries and will support their responsible management, based on efficient and transparent corporate governance structure.