On the Last Day of Visiting Jo Seok-rae's Funeral, Visitors Pay Respects... Park Chan-gu and Ban Ki-moon Attend

Ban "Significant Role in the South Korea-US Economy"

The funeral hall of the late Cho Seok-rae, Honorary Chairman of Hyosung Group and a towering figure in the business world, saw a continuous flow of visitors from various sectors, including politics and business.

On the final day of condolences, the 1st, many people closely connected to the deceased visited the funeral hall set up at Severance Hospital in Seodaemun-gu, Seoul, from early morning. On this day, Park Chan-gu, Chairman of Kumho Petrochemical, paid his respects along with his son, Park Jun-kyung, President of Kumho Petrochemical. Chairman Park said, "I have known him from the beginning."

Park Chan-gu, Chairman of Kumho Petrochemical, is entering the funeral hall of Jo Seok-rae, Honorary Chairman of Hyosung, set up at Severance Hospital in Sinchon, Seoul, on the 1st. Photo by Joint Press Corps

Following this, Ban Ki-moon, former UN Secretary-General, also visited the funeral hall. Former Secretary-General Ban said, "Although I am a junior, he has cooperated a lot over the years and played a significant role in our country's economic development, especially in the Korea-US economy," adding, "The government closely consults and cooperates with economic leaders, encourages the business community, and it is absolutely necessary for the country's development that the business sector contributes to government political and security issues. Chairman Cho Seok-rae was one of those people." On the same morning, Jin Ok-dong, Chairman of Shinhan Financial Group, Heo Yong-soo, President of GS Energy, and Lee Jae-hyun, Chairman of CJ, also visited the funeral hall.

Even during the weekend when condolences were ongoing, many highly praised the deceased’s achievements. Former President Lee Myung-bak, who is related by marriage to the Hyosung family, visited the funeral hall the day before (the 31st) with his wife, Kim Yoon-ok. Former President Lee said, "During my presidency, he served as chairman of the Federation of Korean Industries (now Korea Economic Association), promoting corporate investment and accomplishing many things," adding, "It was during the global financial crisis, and as chairman of the Federation of Korean Industries, he led businesspeople who cooperated a lot at that time."

Former UN Secretary-General Ban Ki-moon pays his respects at the funeral hall of Cho Seok-rae, Honorary Chairman of Hyosung, set up at Seoul Sinchon Severance Hospital on the 1st, and talks with reporters. Photo by Joint Press Corps

On the first day of the funeral, the 30th of last month, Lee Jae-yong, Chairman of Samsung Electronics, visited the funeral hall and stayed for about 30 minutes to console the bereaved family. He paid his respects together with his mother, Hong Ra-hee, former director of the Samsung Museum of Art Leeum. The Samsung and Hyosung families have had a deep connection since the founders’ era. The late Lee Byung-chul, founder of Samsung, and the late Cho Hong-je, founder of Hyosung, jointly invested to establish Samsung C&T Corporation, a trading company.

Jung Eui-sun, Chairman of Hyundai Motor Group, visited the funeral hall with his wife, Jung Ji-sun, to pay respects. Chairman Jung said, "He was a good person," and added, "I comforted the bereaved family, hoping he goes to a good place." Koo Kwang-mo, Chairman of LG Group, also visited on the same day and said, "He was a highly respected figure in the business world, and it is very unfortunate that he has passed away." Choi Chang-won, Chairman of SK Supex Council and cousin of Choi Tae-won, Chairman of SK Group, also visited the funeral hall to console the family.

Cho Hyun-moon, former Vice President of Hyosung and the second son of Honorary Chairman Cho Seok-rae, who had conflicts with his father and brothers, also visited the funeral hall on the first day. It is known that Cho Hyun-moon met with his older brother, Cho Hyun-joon, Chairman, and younger brother, Cho Hyun-sang, Vice Chairman, who were guarding the funeral hall. After paying his respects, Cho Hyun-moon left the funeral hall with his lips tightly sealed. In July 2014, Cho Hyun-moon filed complaints and accusations against his older brother, Cho Hyun-joon, Chairman of Hyosung, and others, alleging embezzlement and breach of trust.