Essays Commemorate Hyosung's Former Chairman

A collection of essays about former chairman of Hyosung Group, Cho Suck-rai, was published, recollecting the life of a businessman who contributed to the country's industrial development.

Around 80 leading figures from politics, business and media contributed to the book, recollecting diverse aspects of the businessman.

They include Hoam Foundation Chairman Sohn Byung-doo, former prime minister Lee Hong-gu, former deputy prime minister Kwon Oh-kyu, Federation of Korean Industries (FKI) Chairman Huh Chang-soo, and SK Telecom honorary Chairman Son Kil-seung. Fukuda Yasuo, former Japanese prime minister, also contributed his piece.

Hyosung Group Chairman Cho Hyun-joon, his son, published the book, on the belief that recording the life of the 82-year-old former chairman would be meaningful with regard to the country's economic and industrial development.

Son Kil-seung introduces Cho as a man who's unafraid to point out what is unfair. When lawmakers visited the FKI in early 1990s, Cho revealed that the businesses were suffering from unjust pressure from banks.

In exchange for giving loans, banks used to pressure businesses to subscribe to savings or other bank services. Most businesses remained silent on fear that they would face unfavorable treatment from powerful lenders. But Cho was willing to represent them.

"For a good cause, Cho would take the lead despite risks of sustaining damage. It made him stand as a dignified leader of the business circle," Son wrote.

Incumbent FKI...