The late Cho Seok-rae, honorary chairman of Hyosung Group, was recognized for his contributions to economic cooperation and the promotion of friendship between South Korea and the United States.
Hyosung Group said Monday that the late Chairman Cho received the "24th Korea-US Friendship Award" from the Korea-US Association at the "Korea-US Friendship Award Ceremony and Night of Korea-US Friendship" held at the Seoul Walkerhill Hotel on Friday.
The Korea-US Friendship Award is presented annually by the Korea-US Association, a non-profit corporation, since 2002 to individuals who have made significant contributions to enhancing friendship and strengthening ties between South Korea and the United States.
Cho served as International President of PBEC (Pacific Business Exchange Council) in 2002 and led domestic and international economic exchange organizations such as the Federation of Korean Industries, the Korea-US Business Council, the Korea-Japan Economic Association, and the Korea-Japan Forum, engaging in private economic diplomacy.
In particular, he was a key figure in laying the foundation for the conclusion of the "Korea-US FTA (Free Trade Agreement)." As the Korean-side chairman of the Korea-US Business Council in 2000, he was the first domestic business leader to publicize the necessity of the Korea-US FTA and led joint research by the business communities of both countries. He not only laid the groundwork for the official negotiations on the Korea-US FTA to begin in 2006 but also participated in the entire negotiation process, devoting all his efforts to concluding the agreement.
When negotiations faced difficulties due to conflicts between the film industry and the government over the issue of reducing screen quotas, he continuously met with officials from both sides to narrow differences and find a breakthrough. Even after the Korea-US FTA was concluded in 2007, the late Chairman Cho did not spare any effort at the private level for the agreement's entry into force, including visiting Washington directly to urge members of the US Congress to ratify it.
He also contributed to South Korea's accession to the US Visa Waiver Program. After joining the board of the Korea-US Business Council in the early 2000s, Cho put in considerable effort, including sending a letter to the US Secretary of State requesting participation in the visa waiver program and establishing a visa subcommittee within the Korea-US Business Council.
Subsequently, South Korea became a member country of the US Visa Waiver Program in 2008. Recognizing such contributions by the late Chairman Cho, he successively received the Gold Tower Industrial Medal in 1987, the Korea-US FTA 10th Anniversary Merit Award, and the "Yeongsan Diplomat Award," establishing himself as a representative business leader who devoted his life to the economic development of the Republic of Korea.
Cho Hyun-jun, chairman of Hyosung Group, who received the award on behalf of the late chairman, said, "My maternal grandfather (Chairman Song In-sang) served for a long time as the second president of the Korea-US Association and received the same award in 2004. It is meaningful that my late father has also received this prestigious award today, and I am deeply grateful on behalf of our family."
He added, "I feel nostalgic thinking that the 'Korea-US alliance where we understand each other and grow together,' which my father envisioned for his entire life, is becoming a reality today. Keeping my late father's will in my heart, I will do my utmost to ensure that the Korea-US alliance continues to be firmly maintained even for future generations."
in INDUSTRY
