Cho Hyun-joon Accepts Korea-US Friendship Award for His Late Father’s Impact

Hyosung Chairman Cho Hyun-joon Honored with Korea-US Friendship Award

On November 6, 2026, during the Korea-US Friendship Night held at the Walkerhill Hotel in Seoul, Cho Hyun-joon, the Chairman of Hyosung, accepted the prestigious '24th Korea-US Friendship Award' on behalf of his late father, Honorary Chairman Cho Suck-rai. This award recognizes the considerable efforts of the late Chairman, who dedicated his life to fostering economic collaboration and camaraderie between South Korea and the United States.

The award ceremony emphasized the significant contributions of Honorary Chairman Cho Suck-rai in establishing the foundations of the Korea-US Free Trade Agreement (FTA) and securing Korea's participation in the US Visa Waiver Program (VWP). His lifelong commitment as a civilian diplomat helped bridge the gap between the two nations, promoting an environment for mutual growth and understanding.

Recognizing his father's legacy, Chairman Cho Hyun-joon expressed his gratitude, noting, "My maternal grandfather, Chairman Song In-sang, served as the 2nd President of the Korea-US Association and received the same award in 2004. Today, I am honored to accept this meaningful recognition on behalf of my father."

A Lifetime Dedicated to Diplomacy

Honorary Chairman Cho Suck-rai was a prominent figure in the business community, leveraging his language skills and international networks to promote economic ties. In 2002, he became the International Chairman of the Pacific Basin Economic Council (PBEC) and took on leadership roles in various organizations, including the Federation of Korean Industries (FKI) and the Korea-US Business Council. His influence and dedication were pivotal in advancing Korea's position in the global marketplace.

Notably, he was also the first business leader to advocate for the Korea-US FTA. His perseverance in addressing trade frictions between the two countries was essential in setting the stage for formal negotiations, which commenced in 2006. Cho Suck-rai actively engaged in discussions with stakeholders from both nations, navigating challenges, and ultimately contributing to the FTA's conclusion in 2007.

In light of the struggles that arose during negotiations, especially regarding the film industry’s screen quota issues, Honorary Chairman Cho was recognized for his efforts in mitigating conflicts and fostering dialogue, ensuring a favorable trading environment.

Key Role in Visa Waiver Program

In addition to trade agreements, Cho Suck-rai was instrumental in Korea's admission into the US Visa Waiver Program. His proactive approach to visa diplomacy highlighted the importance of free movement for individuals as part of fostering trade and collaboration. Under his leadership, the Korea-US Business Council launched initiatives leading to Korea's membership in the VWP in 2008, enhancing connectivity between the two nations.

His influence extended beyond governmental dealings, creating pathways for private diplomacy which significantly strengthened Korea's business footprint globally. In recognition of his dedication to economic growth and leadership, he was awarded several honors, including the Gold Tower Order of Industrial Service Merit.

A Commitment to Future Generations

During the acceptance speech, Chairman Cho Hyun-joon deeply reflected on his father's vision for the Korea-US alliance, stating, "I will engrave my father's will in my heart and work diligently to ensure that the Korea-US alliance remains steadfast for future generations." His words serve as a commitment to continue fostering the ties that his father worked so hard to establish.

The ceremony was attended by approximately 300 attendees, including US Ambassador to South Korea, Michelle Steel, and members of the Korea-US Association, highlighting the significance of the award and the ongoing collaboration between the countries. The Korea-US Friendship Award has been presented annually since 2002 to those who have significantly contributed to strengthening the bonds between South Korea and the United States, making it a noteworthy honor for the Cho family.

This recognition not only honors the legacy of Honorary Chairman Cho Suck-rai but also emphasizes the importance of sustained bilateral cooperation in the realms of trade, economy, and cultural exchanges between the two nations.