Lee Myung-bak says of the late Chairman Jo Seok-rae, "He generated a lot of corporate investment"

Visited the Funeral Hall of Honorary Chairman Cho on the 31st

Former President Lee Myung-bak visited the funeral hall of the late Cho Seok-rae, Honorary Chairman of the Hyosung Group, and praised him as "a person who greatly promoted corporate investment."

On the 31st, former President Lee visited the funeral hall set up at Severance Hospital in Seodaemun-gu, Seoul, and said, "During my presidency, he served as the chairman of the Federation of Korean Industries (now the Korea Economic Association) and promoted corporate investment and accomplished many things." He added, "Since it was during the global financial crisis, the chairman of the Federation of Korean Industries led businesspeople to cooperate extensively at that time."

The late Chairman Cho Seok-rae served as the chairman of the Federation of Korean Industries from 2007 to 2011. During his tenure, he contributed to win-win cooperation among large, medium, and small enterprises, job creation, activation of international exchanges, creation of jobs for women, and establishment of work-family balance. While serving as chairman, he urged improvement of the corporate investment environment by saying, "Fish swim peacefully in a pond, but if you throw pebbles, they disappear. Money is similar in nature; if the situation is unstable, investment does not occur."

Former President Lee Myung-bak is entering the funeral hall of the late Cho Seok-rae, Honorary Chairman of the Hyosung Group, set up at Severance Hospital in Seodaemun-gu, Seoul on the 31st. Photo by Joint Press Corps

On the second day of Chairman Cho Seok-rae’s funeral, major figures from the business and political sectors visited the funeral hall. Business leaders such as Chung Mong-joon, Chairman of the Asan Foundation; Chung Ki-sun, Vice Chairman of HD Hyundai; Chung Ji-sun, Chairman of Hyundai Department Store Group; Lee Kyu-ho, Vice Chairman of Kolon; and Jang Jae-hoon, President of Hyundai Motor Company, as well as political figures including Kim Jin-pyo, Speaker of the National Assembly, and Sung Tae-yoon, Chief of Policy Office at the Presidential Office, paid their respects and honored the deceased’s achievements during his lifetime.

Honorary Chairman Cho, who had been hospitalized at Seoul National University Hospital due to deteriorating health, passed away at 6:38 p.m. on the 29th at the age of 89. The funeral will be held over five days, with the farewell ceremony scheduled for the 2nd of next month. Former Prime Minister Lee Hong-gu is serving as the honorary funeral chairman, and Lee Sang-woon, Vice Chairman of Hyosung, is acting as the funeral chairman overseeing the proceedings.