Korean Air chief executive Cho Yang-ho has been named “Asian business leader” for 2012 by Asia Society Southern California, the country’s largest carrier said Thursday.

The non-profit organization picked Cho, 63, for his contribution to the regional economy as chairman of Hanjin Group, the parent company of Korean Air, the company said in a statement.

Hanjin owns and is currently redeveloping the historic Wilshire Grand Hotel in downtown Los Angeles into a tower complex. The conglomerate has also donated $160,000 to the city over the last four years to support a forestation project known as Million Trees L.A. Such activities generate $1.5 billion in economic effects in the coastal city every year, according to Korean Air.

The ASSC is a unit of Asia Society, a nonpartisan group founded in 1956 with an aim to boost mutual understanding and promote partnerships among peoples and institutions of Asia and the U.S.

By Shin Hyon-hee (heeshin@heraldcorp.com)