[천지일보=유영선 기자] The Hyosung Group applied to the Fair Trade Commission to change the total number (the same person) who actually dominates the company from Honorary Chairman Cho Seok-rae to Chairman Cho Hyun-joon.
According to the business community on the 1st, Hyosung recently submitted an application for change of the same person to the FTC. The same person means a person or legal entity that actually controls a business group. Based on the same person, the scope of the business group and the total number of days of the FTC may change the company subject to sanctions against private interests.
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. Honorary Chairman Cho, 85 years old this year, was diagnosed with gallbladder cancer in 2010.
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%.
Hyosung Group reportedly submitted documents stating that it would delegate a portion of the honorary chairman’s hospital medical certificate and voting rights (9.43%) to Chairman Cho. The FTC actually decides the same person based on whether or not to exercise control. Even if the stake is low, they can become the same person if the impact on management activities through children, etc. is large.
After reviewing the application documents for the change of the same person, the FTC plans to announce the designation of the same person on May 1, the date of designation of a large business group.
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