Chairman Jo Yang-rae's Eldest Daughter on Father's Adult Guardianship Trial: "Father's Wishes Must Be Rightly Honored"

[Asia Economy Reporter Kiho Sung] Cho Hee-kyung, Chairwoman of the Hankook Tire Sharing Foundation, expressed her position regarding the adult guardianship trial of her father, Cho Yang-rae, Chairman of Hankook Technology Group (formerly Hankook Tire Worldwide), stating, "I earnestly hope that my father's will and the century-long corporate management philosophy will be properly upheld."

Chairwoman Cho stated through a press release following an interview investigation at the Seoul Family Court, "My father was a more rational and reasonable person than anyone else, emphasizing family harmony at home and compliance and principled management at the company." This interview investigation was conducted to directly confirm the position of Chairwoman Cho, who filed the lawsuit, following the family court's (Family Division 20) order for a family investigation.

Regarding the succession of management rights to President Cho Hyun-bum, she pointed out, "Decisions that undermine my father's beliefs and philosophy and unreasonable communication were repeatedly made, and the succession was suddenly carried out by secretly trading shares with President Cho." She added, "Moreover, the immoral corruption and poor management decisions of President Cho, who became the successor of Hankook Tire, have led to financial losses for the company and a situation where the trust and reputation that Hankook Tire had built up were destroyed in an instant."

Chairwoman Cho emphasized, "My father, who wished for a modest and ordinary life without being exposed to others, supported Together Walking Children and the Hankook Tire Sharing Foundation with 2 billion KRW annually for 10 years, carefully overseeing each project and taking great pride in the achievements accumulated over time." She continued, "Knowing his intentions, I have also made many efforts to help concretely realize my father's public interest projects and think tanks based on this foundation. The foundation projects that have been carefully developed, the dedicated staff, and the beneficiaries who find and meet new lives are what hurt me the most."

She further stated, "My father valued horizontal communication and selected capable professional managers to grow the company into a global tire enterprise. Respecting professional insight and leading the company with rational judgment was because my father managed with sincerity and responsibility." She questioned, "Can employees truly trust and follow President Cho Hyun-bum, who pursued private interests through immoral means and unilaterally made major decisions such as changing the holding company's name, causing significant losses? Can my father's management philosophy continue?"

Chairwoman Cho expressed frustration, saying, "I am only frustrated about why these things happened and how they can be corrected." She emphasized, "Still, I hope that everything will be set right while enduring these difficult times."

Meanwhile, Chairwoman Cho, who had been staying in the United States, is reported to have already entered the country and completed a two-week self-quarantine procedure to appear in court in person on this day. Investigation plans and schedules for the other siblings, including eldest son Vice Chairman Cho Hyun-sik, second son President Cho, and daughter Cho Hee-won, have not yet been finalized.