Leaving will urging reconciliation between siblings
It is reported that the late Cho Seok-rae, honorary chairman of Hyosung Group, left a will emphasizing brotherly love among siblings and instructing to pass on assets to his second son, Cho Hyeon-moon, former vice president of Hyosung, with the intention of reconciliation.
According to the industry on the 15th, it was revealed that Chairman Cho left a will urging reconciliation between siblings before his death and instructing to pass on considerable assets to Cho Hyeon-moon, the former vice president. The eldest son, Cho Hyeon-joon, chairman of Hyosung Group, and other heirs such as the former vice president, were informed of the contents of the will after the deceased’s death.
The Chairman Cho is said to have written in the will, “The bond between parents and siblings is heaven’s will. A brother is a brother, and a younger sibling is a younger sibling. Please maintain brotherly love no matter what happens.”
Former Vice Chairman Cho caused a rift known as the ‘brother’s dispute’ by accusing Hyosung group’s executives, including his younger brother Cho Hyeon-joon, of embezzlement and breach of trust in 2014. Cho’s side counter-sued in 2017, claiming his younger brother threatened him. The former vice president cut off all ties with his family, including his father, and was excluded from the list of cho’s descendants.