Late Hyosung Honorary Chairman Cho Suk-rai receives Korea-US Friendship Award

Hyosung announced Monday that the late Cho Suk-rai, honorary chairman of Hyosung Group, was posthumously awarded the 24th Korea-US Friendship Award at the Korea-America Society's award ceremony and "Korea-US Friendship Night" held Friday at the Walkerhill Hotel in Seoul.

Cho was widely regarded as a leading private-sector diplomat in Korean business circles, known for his command of foreign languages, extensive international business experience and broad global network. After serving as international chairman of the Pacific Basin Economic Council in 2002, he went on to lead organizations including the Federation of Korean Industries, the Korea-US Business Council, the Korea-Japan Economic Association and the Korea-Japan Forum.

He was particularly instrumental in laying the groundwork for the Korea-US Free Trade Agreement, taking an active role in resolving trade friction between the two countries. In 2000, as the Korean co-chair of the Korea-US Business Council, he became the first Korean business leader to publicly advocate for a Korea-US FTA, arguing that trade liberalization was essential for the globalization of the Korean economy.

Cho led joint research initiatives between the two countries' business communities, helping establish the formal negotiating framework for the Korea-US FTA in 2006, and actively lobbied governments, legislatures and business leaders on both sides. Even after the FTA was concluded in 2007, he traveled to Washington to urge members of Congress to ratify the agreement, sparing no effort at the private-sector level.

He also contributed to South Korea's entry into the US Visa Waiver Program. After joining the leadership of the Korea-US Business Council in the early 2000s, Cho pursued visa diplomacy based on his conviction that "for smooth trade and prosperity between the two countries, not only goods but all people must be able to move freely."

He sent a personal letter to the US Secretary of State requesting South Korea's inclusion in the Visa Waiver Program and established a dedicated visa subcommittee within the Korea-US Business Council.

In recognition of these contributions, Cho received the Gold Tower Order of Industrial Service Merit in 1987, a merit award marking the 10th anniversary of the Korea-US FTA, and the Youngsan Diplomacy Award, among other honors.

Hyosung Chairman Cho Hyun-joon, who accepted the award on his late father's behalf, said he was deeply grateful on behalf of the family, noting that his maternal grandfather, Song In-sang, had served for many years as the second president of the Korea-America Society and received the same award in 2004. "It is deeply meaningful that my late father is now receiving this honor as well," Cho said.

"I am moved by the thought that the Korea-US alliance my father devoted his life to — one of mutual understanding and shared growth — is becoming a reality today," Cho added. "I will carry his wishes in my heart and do my best to ensure the Korea-US alliance is passed on, stronger than ever, to future generations."

The Korea-America Society has presented the Korea-US Friendship Award annually since 2002 to individuals who have made outstanding contributions to strengthening ties between the two countries. Past recipients include Horace Underwood, former president of Yonsei University (1st award); Gen. Paik Sun-yup (2nd); former UN Secretary-General Ban Ki-moon (18th); and Chung Se-young, honorary chairman of Hyundai Development Company (20th).