Samsung Chairman Lee Mourns Death Of Hyosung Honorary Chairman

Seoul: Samsung Electronics Chairman Lee Jae-yong on Saturday expressed condolences following the death of Hyosung Group Chairman Emeritus, Cho Suck-rai. Lee, accompanied by his mother Hong Ra-hee, paid his respects at the funeral altar for Cho at Severance Hospital in central Seoul around 2 p.m.

His presence marked the first visit by a Korean business leader outside the deceased chairman’s relatives, reports Yonhap news agency.

But he did not make any comments during his visit.

Lee’s attendance underscored the longstanding connection between Samsung Group and Hyosung Group, rooted in the close business partnership between their founders.

Cho’s father, the late Hyosung founder Cho Hong-jai, founded and operated Samsung Corp. in 1948 with Samsung’s late founder Lee Byung-chul, before breaking away to establish Hyosung Corp. in 1962.

Meanwhile, the late Cho, who stepped down from the management of the company in 2017 due to his advanced age and health, died on Friday at the age of 89.