Son of chairman steps down as head of Hyosung subsidiary

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Son of chairman steps down as head of Hyosung subsidiary


Cho Hyun-moon

Cho Hyun-moon, president of Power and Industrial Systems Performance Group, Hyosung Group’s heavy industry subsidiary and second son of group Chairman Cho Seok-rae, resigned Thursday and will no longer be part of the group’s management, according to the group.

The chairman’s oldest son, Hyun-joon, and third son, Hyun-sang, will continue competing to succeed their father, who has not yet announced who will take over the company.

Hyun-moon also sold his stock in the group. Hyun-moon had been in charge of heavy industries while Hyun-joon focuses on trade and textiles, and Hyun-sang manages the division producing industrial materials.

Hyun-moon has a law degree from Harvard University and will practice at a law firm named Hyun, which specializes in a corporate law.

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