Business leaders joined relatives to mourn the death of Cho Suck-rai, the honorary chairman of Hyosung Group, a textile giant, on Sunday. Cho died of a chronic illness Friday at the age of 89. Cho led the textile giant from 1982 until 2017, when he stepped down from the top management position due to health issues. His eldest son, Cho Hyun-joon took the baton to lead the conglomerate. On Saturday, Samsung Electronics.
Hyosung Group Honorary Chairman Cho Seok-rae s death at the age of 89 on Friday has been mourned by the heads of Korea s largest conglomerates and influential politicians of both ruling and opposition parties, as the deceased entrepreneur contributed to the Korean chemical industry s growth and economic ties with foreign countries, industry officials said Sunday.
SK Group’s latest move to strengthen employee discipline has sparked speculation that the conglomerate may abandon the Happy Friday system, which allows employees to take a Friday off once or twice a month after working overtime on previous weekdays, according to industry officials, Friday.
SK Group initiated a sweeping top-level management overhaul, appointing younger executives to lead key affiliates in a strategic move to boost innovation amid persistent domestic and international business uncertainties, the company said on Thursday.