Seoul — Samsung Electronics Chairman Lee Jae-yong expressed his condolences following the death of Hyosung Group's Honorary Chairman Cho Suck-rai. Lee, alongside his mother Hong Ra-hee, visited the funeral altar at Severance Hospital in central Seoul on Saturday afternoon, marking a significant gesture of respect from the South Korean business community. This visit was notable as Lee was the first business leader outside Cho's family to pay respects.
According to Yonhap News Agency, Lee's attendance highlighted the long-standing relationship between Samsung and Hyosung, dating back to the collaboration between their founding families. The late Cho Suck-rai, who retired from his executive role in 2017 due to health reasons, passed away on Friday at the age of 89. His death marks the end of an era for Hyosung, a company that was founded after a division from Samsung in 1962 by Cho's father, the late Cho Hong-jai.