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▲Hyundai Motor Group Chairman Jeong Eui-sun (left) and Hyosung Group Chairman Cho Hyun-jun. |
[에너지경제신문 전지성 기자] It is reported that the Hyundai Motor Group has requested the Fair Trade Commission to change the total number of companies that dominate the company from Emeritus Chairman Chung Mong-koo to Chairman Eui-Sun Eui-seon.
Hyosung also requested that the total number be changed from Honorary Chairman Cho Seok-rae to Chairman Cho Hyun-joon.
According to the government and business circles on the 1st, Hyundai Motor Company[005380]And Hyosung Group recently submitted an application for change of the same person (total number) to the FTC. In the case of Hyundai Motors, if the same person is changed, the total number will change in 21 years.
Each year, in May, the FTC designates and announces a group of companies subject to disclosure of 5 trillion won or more in total assets and a group of companies that restrict mutual investment of 10 trillion won or more, and the same person is specified together.
The same person is the actual governor of the company and is responsible for all responsibilities related to group designation data. Depending on who the FTC designates as the same person, the companies subject to the sanctions for specially related persons and the total number of family members may change.
The FTC determines the same person based on whether they exercise control. They can be the same person if the ownership interest has at least a large impact on management activities.
In the case of Hyundai Motor Company, there were discussions on changing the total number last year and last year, but at that time, Hyundai Motor Company did not apply for a change, and the FTC also maintained the position as the total number considering the health status and control of Chairman Chung Mong-koo at the time.
However, this time, as Chairman Eui-sun Eui-seon was already inaugurated last October and is in charge of the management of the group as a whole, changing the same person is actually a scheduled procedure, both inside and outside the business world.
Honorary Chairman Chung Mong-koo is the last remaining Hyundai Mobis at this month’s shareholders’ meeting.[012330] The registered director has also decided to withdraw after leaving one year in office.
If Chairman Eui-seon Eui is designated as the same person this time, the total number of Hyundai Motors will change in 21 years. When Hyundai Motor Company was separated from the Hyundai Group in September 2000, it was first designated as a conglomerate group in 2001, and Emeritus Chairman Chung Mong-koo has maintained the position of general head.
Accordingly, it is expected that the “Era of Justice Line” will begin.
It is known that Hyosung Group presented the hospital medical certificate of Honorary Chairman Cho and suggested the health status as the reason for the change of the same person. It is reported that a document stating that honorary Chairman Cho’s stock voting rights (9.43%) would be delegated to Chairman Cho.
As of the end of September of last year, Hyosung Group’s eldest son, Cho Hyun-joon, owns 21.94% of the holding company, and the third son, Cho Hyun-sang, has 21.42%.
Honorary Chairman Cho was sentenced to three years in prison in the second trial for evaluating tax of 130 billion won, but was not imprisoned in court due to health conditions. Was judged guilty and the case was returned to the Seoul High Court.
Honorary Chairman Cho’s health status is not only a factor to consider in the FTC’s judgment on whether to change the same person, but also an issue that can affect whether or not to be executed in the future.
The Criminal Procedure Act allows a prisoner to suspend execution when there is a concern that a prisoner may harm his health or cannot preserve his or her life due to execution of a sentence.
Accordingly, it is known that there are not many differences within the FTC as to whether the request for change should be accepted due to this situation.
Hyosung said, “Honorary Chairman Cho is 85 years old this year, and he is in a very unhealthy situation due to recurrence of gallbladder cancer, a chronic disease.” “I think it makes sense to change the designation.”
An official from the FTC said, “It is in the process of internal review, and on May 1st, the same person of the large business group will be designated and announced.”