Ex-Hyosung chairman resigns as chief of its main subsidiary

Home > Business > Industry

print dictionary print

Ex-Hyosung chairman resigns as chief of its main subsidiary


The former chairman of Hyosung Group has left his post as head of Hyosung Corporation, a local textile maker, due to old age, the conglomerate said Friday.

Cho Suck-rai, 81, retired as chief executive of the flagship unit of the family-run business group, the company said in a regulatory filing, effectively ending his career that spanned more than five decades and began in 1966.

Cho had already handed over his position as group chairman to his first son Cho Hyun-joon late last year.

The 81-year-old is currently facing an appeal on charges of tax evasion and embezzlement. A lower court sentenced him to three years in prison and a fine of 136.5 billion won ($120 million).


More in Industry

Ballantine's boys

Doing the robot

Export growth of 6% seen by KITA next year

Big companies, fearing the worst, scramble for cash

Hyundai unveils one-size-fits-all electric vehicle module

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now