July 16, 2024

Biz community bids final farewell to late Chairman Cho Suck-rai

PUBLISHED : April 02, 2024 - 11:33

UPDATED : April 02, 2024 - 11:33

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People are participating in a send-off ceremony of late Hyosung Group Chairman Emeritus Cho Suck-rai at Severance Hospital in western Seoul, April 2. (Yonhap)

The funeral for late Hyosung Group Chairman Emeritus Cho Suck-rai was held in Seoul on Tuesday as his grieving family and employees commemorated his legacy in the South Korean business community.

Cho died of a chronic ailment Friday at age 89, seven years after he stepped down from the top management position in 2017 due to his advanced age and health.

The funeral took place at Hyosung Group's headquarters in Mapo Ward, western Seoul, with his wife and his sons, including the eldest, Hyun-joon, the incumbent chairman of Hyosung Group, in attendance.

Former Prime Minister Lee Hong-koo; Ryu Jin, chairman of the Federation of Korean Industries (FKI); Kim Yoon, chairman of the Korea Japan Economic Association; and other business leaders also attended the ceremony, along with Hyosung Group officials.

The funeral procession for Cho will travel to places where he worked, including the FKI office in Yeouido, before heading to his final resting ground in Gyeonggi Province, according to the company.

Cho played a pivotal role in shaping South Korea's heavy chemical industry and establishing Hyosung as a global business entity.

Emphasizing technology and quality, he began leading the company in 1982 and propelled Hyosung's flagship products, including spandex and tire cords, to the forefront of the global market.

He also actively contributed to the local business community, serving as the chairman of the FKI, one of the country's major business lobbying groups, from 1987 to 2007.

With a vast international network spanning the United States, Japan, China and other major economies, Cho played a prominent role in regional business associations, such as the Pacific Basin Economic Council and the Korea-U.S. Business Council.

During his five-day mourning period, a number of South Korean political and business leaders, including Prime Minister Han Duck-soo and Samsung Electronics Chairman Lee Jae-yong, have offered their condolences. (Yonhap)

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