A memorial service was held on the 27th at Hyosung's headquarters in Mapo-gu, Seoul, marking the second anniversary of the death of honorary chairman Cho Suck-rai of Hyosung. His son, Hyosung Chairman Cho Hyun-joon, HS Hyosung Vice Chairman Cho Hyun-sang, other bereaved family members, executives and employees, and guests attended to honor the honorary chairman, Cho, who laid the foundation of Hyosung.

The memorial service, which lasted about 40 minutes in the morning, began with a moment of silence for the deceased, followed by an introduction of the career, a reading of a memorial address, a video showing scenes from the deceased's life, and a flower-laying.

At Hyosung's Mapo headquarters in Mapo-gu, Seoul, on the 27th, Hyosung executives and employees bow their heads after laying flowers during the second anniversary memorial for Honorary Chairman Cho Suck-rai./Courtesy of Hyosung

After the company memorial service, the family and top management moved to the family burial site in Gyeonggi Province to continue the commemoration. Hyosung will keep the memorial hall at headquarters open until 5:30 p.m. today so that regular employees can freely lay flowers and pay their respects.

Honorary Chairman Cho, who died at 89 on Mar. 29, 2024, began as president and CEO of Dongyang Nylon, the predecessor of Hyosung, in 1970 and took the helm of various businesses including Tongyang Polyester, Hyosung Corporation, and Hyosung Heavy Industries, laying the cornerstone for the development of Korea's manufacturing industry.

After becoming the second chairman in 1982, he grew Hyosung into a global company through management innovation and overseas market development. In particular, based on keen insight into the changing times and a spirit of challenge, he focused on technology-driven management to lead global markets and boldly decided to enter overseas markets, building the foundation for Hyosung's global management.

From 2007 to 2011, he served as chairman of the Federation of Korean Industries (now The Federation of Korean Industries) and is credited with playing a pivotal role not only in group management but also in the business community. He also served as the Korean-side chairperson of the Korea-U.S. Business Council (2000–2009) and as chairperson of the Korea-Japan Economic Association (2005–2014), expanding his global external activities as a "private diplomat" leading the Korean economy.

In May 2004, Honorary Chairman Cho Suck-rai pays a courtesy visit to the Blue House as a representative of the business community./Courtesy of Hyosung

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