Cho Hyun-moon, the second son of the late Hyosung Group Honorary Chairman Cho Suck-rai, who has been estranged from his family after a long sibling feud, said Friday that he will donate his inheritance to society.
“I will not keep a penny of (my inheritance) for myself but will contribute it to establish a public welfare foundation,” the former vice president of Hyosung said during a press conference in Seoul.
“By not coveting the inherited property and contributing the entire amount to establish a public welfare foundation, I aim to set a precedent for serving the nation and society. I believe that other co-heirs will cooperate in establishing this foundation,” he added.
The former vice president has been in 스포츠토토존 conflict with his siblings for a decade since he accused his older brother, Hyosung Group Chairman Cho Hyun-joon, and several other group executives in 2014 of embezzlement and breach of trust.
In response, the chairman also filed a counter-complaint in 2017, claiming his younger brother had threatened him.
Since then, Cho Hyun-moon has liquidated his Hyosung shares, stepped down from management, cut ties with his family and has been running a business while living in Singapore.
The late Hyosung Group honorary chairman, who died in March, left a will urging reconciliation among his three sons, who had been feuding. It was also reported that he decided to leave property exceeding the minimum inheritance share to his estranged second son.
In his will, the honorary chairman pleaded, “The bond between parents and siblings is celestial. No matter what happens, please maintain brotherly affection.”